Updated 8/24/20
We know that these are incredibly challenging and uncertain times for Baltimore’s small business community as you make difficult decisions on how to limit and adapt operations to protect the health and financial well being of your employees, customers, and business with the spread of COVID 19. We are compiling resources that are available and may be of assistance to businesses in Baltimore and throughout the state during this time of crisis, and will continue to update as new information becomes available.
NEW:
BDC Small Business Assistance Grant Reopens: Baltimore City small businesses with annual revenues under $750,000 or $1.5 million for restaurants who have been impacted by COVID 19 are eligible to apply for additional grant funding from BDC. Application deadline 10/16/2020. Businesses who have not already received PPP or City assistance funding will be prioritized. Apply here
Baltimore Business Lending COVID 19 Relief Small Business Grant ;Baltimore Business Lending is offering a limited amount of $10,000 grants to small businesses in Baltimore impacted by COVID 19. Application deadline 10/16/2020 at 5:00pm
Share your Experience!
Complete the Baltimore Development Corporation Impact Survey and the Impact Hub Baltimore Supplemental Economic Impact Assessment
Relief Funds
- Paycheck Protection Program: Small business loans up to $10 million (up to 250% of your average payroll costs) that can be100% forgivable for expenses related to payroll, rent, mortgage interest, or utilities if all employees are retained on payroll
- SBA Economic Injury Disaster Loan– Emergency Advance: SBA offers $10,000 advance that does not need to be repaid & is available within three days for applicants of the Economic Injury Disaster Loan and a list of SBA funders in Maryland
- Senator Ben Cardin’s guide on choosing the right loan or grant option
- Baltimore Development Corporation COVID 19 Loan & Grant FAQs
- UPDATE: As of July 20, no new application will be accepted, but additional funding has been allocated to begin processing existing applications: Maryland Small Business Covid 19 Emergency Relief Grant Fund: Up to $10,000 in grant funds for small businesses with under 50 employees and under $5 mil in annual revenue
- For Workers: Restaurant Workers Community Foundation COVID 19 Relief Fund, assistance for restaurant workers who have lost income and are not receiving support through their employer or Unemployment, apply through the Southern Smoke application
- For Workers: Baltimore Virtual Tip Jar: organized locally by service workers & community members, add your name & Venmo to receive community-sourced “tips”
- For Workers: One Fair Wage Emergency Coronavirus Tipped and Service Worker Support Fund: cash assistance to restaurant workers, car service drivers, delivery workers, and personal service workers
Guides & General Resources
- Maryland Roadmap to Recovery Safety & Reopening Guidelines and Back to Business Pledge
- COVID 19 Retail Advisory Group Recommendations
- OSHA COVID 19 Guide
- Food Safety FAQs from the Maryland Department of Health
- Baltimore Together from the Baltimore Development Corporation
- Maryland Small Business Development Center Recovery and Sustainability Guide
- Maryland Retailers Association Safety & Reopening Resources
- Baltimore Ecomap: Resources on Loans & Financial Assistance, Local Support Organizations, and other statewide small business resources
- Resources and FAQs from the National Restaurant Association
- Guidance from the Associated General Contractors
- Small Business Administration Guidance
- Maryland Building Industry Association
Free In-Kind Resources for Small Businesses
- Free courses from ServSafe for restaurant and food service workers on Food Handler certification and Takeout and Delivery Covid 19 Precautions
Advising & Discussion Forums
- Free advising & technical assistance to navigate the impacts of COVID 19 from Baltimore Development Corp and Impact Hub Baltimore
- Loyola Center for Community Service & Justice Pro Bono Crisis Navigators
- Baltimore City Chamber of Commerce Free Business Advising Session
- Pacific Community Ventures Volunteer Business Advisors
- Impact Hub Baltimore Skill Shares and virtual events
- Inner City Capital Connections has virtual business advising, webinars, and events
- ZingTrain small business webinars & advising
- James Beard Foundation strategies and daily webinars for the restaurant industry
Guidance for Leading your Team
- A great webinar from the James Beard Foundation with comprehensive advice for restaurant industry business owners and HR teams on maintaining a strong team during COVID 19 and strategies to support employees, tips on how to plan for re-opening or expanding operations, and how to create fair and consistent policies
- Tips for strong & supportive leadership in a time of crisis
- Recommendations from Gallup on effective leadership through trust, compassion, stability, and hope
- Create a paid sick leave plan with:
- A Step by Step Guide from Pacific Community Ventures
- Guidelines on the FFCRA
- SBDC breaks down new guidelines from the Families First Coronavirus Response Act (chart on Page 8)
- Sample Policies in compliance with the Maryland Healthy Working Families Act
- Help connect to expanded health services & information:
- The Maryland Health Connection is offering a special enrollment period for the ACA through Dec 15. Visit MarylandHealthConnection.gov or download the free “Enroll MHC” mobile app. Request or select “Coronavirus Emergency Special Enrollment Period.” Free help is available by calling 1-855-642-8572 from 8 a.m. to 6 p.m. on weekdays.
- Baltimore Health Clinics that accept uninsured patients: Currently testing for COVID-19 is free nationwide for all individuals regardless of insurance coverage
- Free COVID 19 Testing at the Baltimore Convention Center, available by appointment Wednesdays and Fridays 8:00am- 2:00pm
- Maryland Insurance Administration FAQ
- Share information about financial resources & protections
- The moratorium on evictions in Maryland expired July 25. DHCD has issued guidance for renters impacted by COVID 19 and renters can apply for eviction prevention assistance through expanded City funding
- No Power Shutoffs: BG&E is suspending all service disconnection and waiving late fees through Sept 1st
Access to Capital & Loans
- The SBA Economic Injury Disaster Assistance Loans is providing low-interest loans to qualifying businesses, eligible businesses may also apply for up to a $10,000 advance that does not need to be repaid, and will be made available 3 days after loan approval
- KIVA Baltimore is offering 0% interest loans up to $15,000 with a 6 mos grace period on repayment
- Maryland MSBDFA Program– COVID 19 Emergency Relief Loan Fund offers 5 year, $20,000- $25,000 loans with 0% interest for the first year and 2% interest for the following four years
- Honeycomb Credit is offering emergency relief loans for small businesses with a 6 mos interest only repayment
- Baltimore Business Lending is still accepting low-barrier loan applications remotely up to $50,000
- Mainvest Main Street Initiative: 0% interest loans up to $2,000 and Shared Revenue Notes, which allow businesses to offer investors a percentage of their revenues and pay out overtime until they receive an agreed upon return.
- Wefunder is offering crowdsourced loans from $20,000- $1 million with 3% interest
Legislation & Government Agency Response
- Governor Hogan’s Roadmap to Recovery Phased Reopening Strategy and restrictions on business operations
- Latest Press Releases on City Reopening from Mayor Young : as of August 7th restaurants, religious services, indoor retail, indoor physical and recreational activities, and other indoor gatherings are allowed to operate at 25% capacity, outdoor gatherings must be limited to 25 people
- Coronavirus Aid, Relief, and Economic Recovery Act (CARES): provides an economic stimulus that includes 1) A one- time $1,200 payment to all individuals, plus an additional $500 for each dependent child 2) Extends unemployment insurance to contract and “gig” workers 3)Provides an additional $600/week to Unemployment Insurance benefits 4)Allows employers to pay employees up to $5,250 in tax-free student debt aid, that does not need to be counted as income. Get a breakdown of the details here
- Families First Coronavirus Response Act will provide federally sponsored paid sick leave, expanded paid family and medical leave, expanded unemployment insurance, food assistance, and help for small businesses
- IRS Coronavirus Tax Relief
- Business tax filing can be delayed until June 1st and payment deadline is extended with no penalties or interest until July 15, 2020; businesses who have paid their Maryland state taxes may file for a refund payment. Contact: taxpayerrelief@marylandtaxes.gov or 410-260-4020 for questions
- Unemployment Benefits: US Department of Labor extends unemployment benefits to workers impacted by COVID-19 and offers Work Share Programs to small businesses
Pages to Follow for Updates
- Small Business Administration
- Maryland Small Business Development Center
- Baltimore City Chamber of Commerce
- Made in Baltimore
- Maryland Governor Hogan
- Maryland Department of Commerce
- Baltimore Sun
- Baltimore Development Corporation
- Baltimore Business Lending
- Baltimore Health Department
- Your Local Councilperson on Social Media, find them here
