HoCo RISE Awards $13.55M To Businesses Fighting Through Pandemic

HOWARD COUNTY, MD — When the coronavirus pandemic shuttered Howard County businesses, many owners had no idea how they would weather the storm. Then the county announced HoCo RISE grants that would provide financial assistance to businesses in targeted sectors most impacted by the coronavirus and planned to reopen. As of Jan. 31, HoCo RISE dispersed more than $13.55 million in grants to 1,483 Howard County businesses. More than 76 percent of businesses that received grants are women, minority or veteran-owned.

The funding was distributed in two rounds. There were 674 business that received first-round funding and 809 businesses that received second-round funding. A report released by Howard County officials detail the demographics and districts of businesses that received grants.

This funding consisted of:

• $2.51 million in state of Maryland Rainy Day funds for restaurants
• $11.04 million in CARES Act funding designated by Howard County for HoCo RISE Business Grants

"Businesses during the past year have faced uncertainty and an unpredictable future at nearly every turn,” Howard County Executive Calvin Ball said in a statement. “We have nearly 10,000 businesses that call Howard County home, and since last summer, we have provided more than $13.5 million in funding to our restaurants, small-retailers, farms, hotels, live venues and childcare providers."

In February, Ball announced a third round of grants that included $2 million in county funds for businesses, $1.5 million from the state for restaurants, and $1.6 million from the state for hotels. This round of funding just closed, with 276 applications for home-based and other businesses, 173 applications for restaurants and 30 applications for hotels. Businesses receiving grants in this third round can expect their funding by the end of March.

To read the full report, click here.