Paycheck Protection Program Round 2 Apply Now!
The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, announced today that the Paycheck Protection Program (PPP) will re-open the week of January 11 for new borrowers and certain existing PPP borrowers. To promote access to capital, initially only community financial institutions will be able to make First Draw PPP Loans on Monday, January 11, and Second Draw PPP Loans on Wednesday, January 13. The PPP will open to all participating lenders shortly thereafter. Updated PPP guidance outlining Program changes to enhance its effectiveness and accessibility was released on January 6 in accordance with the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act.
LEDC’s PPP application portal is now live! You can access it here:
To view participating lenders, click here
The new guidance released includes:
BGE Energizing Small Business Grants Program
On January 20, BGE will launch its Energizing Small Business Grants Program as part of its $15 million pledge to assist small businesses with COVID-19 relief and recovery. This is a component of BGE’s comprehensive Customer Relief and Energy Infrastructure Investment Plan, designed to help the state’s economic recovery from the COVID-19 pandemic.
Through the BGE Energizing Small Business Grants Program, eligible businesses located in BGE’s service area will have three opportunities to apply for grants of up to $20,000:
To be eligible, a business must have between two and 25 employees, less than $7 million in annual revenue, a demonstrated need for support, a strong plan for moving forward, and be in good standing with the state of Maryland.
For more information contact Allyson Black, Manager, State Affairs and Economic Development, BGE Allyson.Black@bge.com 410.269.5286
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E-News Brief from the Mayor’s Office of Small, Minority and Women Business