Applications Being Accepted For Small Business Financial Aid

ROCKVILLE, MD – The application process for Montgomery County’s Microenterprise Stabilization Program designed to help area small businesses began on Wednesday and will continue until next week, county officials announced.

The MSP initiative is designed for for-profit businesses with five or fewer employees that require financial assistance after being impacted by the coronavirus pandemic. The program is also open to businesses with no employees, including sole proprietors and independent contractors.

The program is being funded from $1 million through Community Development Block Grant and CARES Act programs. Information on the eligibility requirements and required documentation is available on the MSP web page at www.montgomerycountymd.gov/biz-resources/msp. Applications are being accepted through 5 p.m. June 16.

The MSP initiative is one of several financial assistance programs being offered to small businesses impacted by the coronavirus pandemic. Eligible businesses must be located in Montgomery County or the owner must be a county resident and at least 51 percent of business revenue must be generated in Montgomery County.

Businesses approved through the program will receive a maximum of $10,000. Each application received will be assigned a random number and applications will be reviewed in that order. The county will host webinars each day at 9 a.m. through Saturday when questions about the MSP initiative will be addressed. Webinar links and instructions are available at www.montgomerycountymd.gov/biz-resources/msp and questions about the program can be directed to BizinfoCovid19@montgomerycountymd.gov.