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Maryland Coronavirus Information for Businesses

Independent Lenders

If you anticipate having trouble making a loan payment, please notify your lender or loan servicing company as soon as possible to discuss your options. Early and regular communication is important. More information from the Maryland Bankers Association. And, view a list of credit unions operating in Maryland and their contact information.

Local Programs

Small Business Association (SBA) Disaster Assistance for Maryland businesses

Below are additional resources provided by a number of federal and state government agencies that businesses may find helpful. Visit Maryland Business Express page as the situation develops and as new resources become available.

Employer & Worker Assistance

Licensing & Permitting

Source: Maryland Coronavirus (COVID-19) for Business

The CARES Act

The CARES Act was passed by Congress and signed into law on March 27, 2020. Read an overview here and a Q&A from the U.S. Senate Committee on Small Business and Entrepreneurship can be found here. More information from the U.S. Department of the Treasury can be found here. An eligibility guide for businesses can be found here.

In addition to establishing the Paycheck Protection Program, the CARES Act creates several new resources to assist businesses during this crisis:

  • Relief to States and Territories
    • The CARES Act also creates a $150 billion Coronavirus relief fund for states and territories.
    • $139 billion is set aside for states and is allocated based on population, using latest census data. There is a minimum of $1.25 billion per state. Maryland is expected to receive an estimated $2.344 billion. Local governments in jurisdictions with populations of at least 500,000 may request a direct payment from the U.S. Department of the Treasury.
  • Payroll Tax Credit
    • The CARES Act establishes a refundable, 50% payroll tax credit (the Employee Retention Credit) covering up to $10,000 paid per employee, including benefits from the period of March 13, 2020 to December 31, 2020. Read more, and find additional IRS guidance on Coronavirus tax relief here.
  • Additional Provisions
    • For companies with more than 500 employees, the CARES Act provides $500 billion distributed to distressed industries, including passenger airlines, cargo air carriers, and industries related to national securityRead more.
    • The CARES Act also includes support for economic development agencies and programs, including funding for the Community Development Block Grant, assistance to minority business development centers and minority chambers of commerce, several million for state arts and humanities agencies and partners, and more, to assist businesses in need. Read more.