$20M Relief Fund Approved For Montgomery Businesses: Coronavirus

ROCKVILLE, MD — The Montgomery County Council on Tuesday voted unanimously to approve a $20 million emergency fund to help small businesses and nonprofits affected by the coronavirus pandemic.

"I think the urgent need for our local employers to be able to receive this funding as quickly as possible to help them keep the lights on is absolutely paramount," Councilmember Andrew Friedson — who sits on Planning, Housing, and Economic Development committee — said.

The county's all-Democratic council also approved an additional $6 million in response to the crisis — $5 million will help cover basic expenses like housing and childcare; and the remaining $1 million will support safety-net services, like meal distribution, through the Department of Health and Human Services.

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The funds are part of the Public Health Emergency Grant Program, which was created to help businesses and residents weather the economic downturn due to the coronavirus pandemic. The money will come from the county's General Fund Reserves.

Through the grant program, local businesses and nonprofits with 100 or fewer full-time employees can apply for grants of up to $75,000. According to officials, grant funding must be used for employee wages and benefits, taxes, debt, rent, or other operating losses during the public health crisis.

Local businesses and nonprofits can also receive mini-grants of up to $2,500. These mini-grants would help cover the costs associated with employee teleworking during the public health crisis.

In order to receive financial assistance, a local business must enter into a grant agreement with the county. The agreement must include conditions related to:

• the county's right to audit the grantee's financial records
• the grantee's reporting obligations to the director of the Department of Finance
• the grantee's obligation to remit any improperly used or unused funds to the county

"I am pleased to partner with my Council colleagues on this important effort. Our goal is to use these funds in conjunction with other supports to provide assistance to as many people and businesses as possible," said County Executive Marc Elrich. "I continue to remind everyone to please follow the guidelines to slow the spread of this virus. The sooner we do this; the sooner we will be able to ease these restrictions. Together, we'll get through this."

SEE ALSO:

• Coronavirus In Montgomery County: What To Do If You Have Symptoms
• Testing, Fines, And Masks: The Latest Coronavirus Changes In MoCo
• Montgomery Co. Unemployment Claims Surge Amid Coronavirus Crisis
• How To Help Montgomery County Businesses During Outbreak
  
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