Financial Assistance

Maryland Business Relief Wizard

The Maryland Business Relief Wizard is a tool that helps connect businesses with the resources and programming for which they’re eligible, streamlining the process of finding support.

Federal Programs

Emergency Capital Investment Program

Established by the Consolidated Appropriations Act, 2021, the Emergency Capital Investment Program (ECIP) was created to encourage low- and moderate-income community financial institutions to augment their efforts to support small businesses and consumers in their communities.

Under the program, Treasury will provide up to $9 billion in capital directly to depository institutions that are certified Community Development Financial Institutions (CDFIs) or minority depository institutions (MDIs) to, among other things, provide loans, grants, and forbearance for small businesses, minority-owned businesses, and consumers, especially in low-income and underserved communities, that may be disproportionately impacted by the economic effects of the COVID-19 pandemic.  Treasury will set aside $2 billion for CDFIs and MDIs with less than $500 million in assets and an additional $2 billion for CDFIs and MDIs with less than $2 billion in assets.  

Economic Injury Disaster Loan

The SBA has improved the COVID Economic Injury Disaster Loan (EIDL) program to better meet the needs of small businesses, especially those hardest hit industries and smallest entities that still need relief.

  • The SBA has increased the amount of funding that can be borrowed from $500,000 to $2 million for qualified applicants.  
  • The SBA has authorized COVID EIDL funds to be used to pay and prepay commercial debt and make payments on federal business debt in recognition of the financial reality many small businesses are facing during this crisis.
  • Small businesses can now defer payments further – loans will not have to be repaid for two years after your loan origination date. 
  • To help ensure the smallest businesses can access this crucial capital, the SBA created a one-month exclusive window for businesses requesting $500,000. During this time, approvals and disbursements will focus 100% on loans $500,000 or less until October 8th, upon which approvals and disbursements will be opened up to all loan sizes.

The SBA will continue to accept applications for the COVID EIDL program until December 31, 2021 or until funds run out. Go to SBA’s EIDL page for additional information and to apply.

Targeted EIDL Advance Mapping Tool

A new mapping tool is available to assist businesses in determining if they are located in an eligible area to qualify for a Targeted EIDL Advance.  Learn more here and visit the updated FAQs for more information. 

PPP Forgiveness:

4 Steps to apply for Paycheck Protection Program loan forgiveness. For more information, visit the PPP Loan Forgiveness page on SBA’s website

  1. Determine if your lender is participating in direct forgiveness through SBA and complete the correct form:

Review the list of lenders participating in direct forgiveness to determine whether you must apply via SBA.

  • For borrowers whose lender is participating in direct forgiveness, you can use the SBA’s portal to apply after August 4, 2021. Direct forgiveness borrowers must use the SBA forgiveness portal. The questions you will be asked in the portal correspond to those asked on SBA form 3508S.
  • For borrowers whose lender is not participating, you must apply through your lender. Your lender can provide you with either the SBA Form 3508, SBA Form 3508EZ, SBA Form 3508S, or a lender equivalent. Your lender can provide further guidance on how to submit the application.
  1. Compile your documentation
  2. Submit the forgiveness form and documentation to SBA or your PPP lender
  3. Continue to monitor your application for forgiveness

Emergency Grant Applications Now Open!

With the passage of the RELIEF Act of 2021 by the Maryland General Assembly, MSAC will distribute $5 million through its Emergency Grant Program. Created in March 2020 in response to the COVID-19 State of Emergency, Emergency Grants provide funding to arts organizations and artists for losses sustained because of programming, operations, and events that have been modified or cancelled. 

Employee Retention Tax Credit 

Part of the CARES Act is a tax credit for the portion of employment taxes paid by the employer. The credit is based on a decline in gross revenue per quarter and only applies to wages paid after March 12, 2020 and before January 1, 2021. Click here to learn more about this program. Consider contacting your accountant or your payroll company for assistance.

Fraud Alert from SBA

Bad actors are sending phishing emails posing as SBA, World Trade Finance company, and various companies. They are asking business owners to apply for a Paycheck Protection Program loan. Some email links lead to data collection sites related to “PPP 2021 Data Collection Form” or “PPP 2021 Approved”. Disclosing personal information on these sites could lead to information loss and identity theft.

Any email from SBA will use the handle. Loan applicants who receive email correspondence asking for sensitive information are cautioned to verify that any application numbers referenced in the email are consistent with recipient's actual application number.

Maryland Programs

Maryland Supply Chain Resiliency Program

The Maryland Supply Chain Resiliency Program assists Maryland manufacturers that have been adversely affected by COVID with impacts to operations, workforce and / or sales.  The Maryland Supply Chain Resiliency Program will include a business assessment and review of a company’s business practices to better understand the impacts on the business and the opportunities to help overcome them.

Following the business assessment, your company may be eligible for business assistance under the grant. Examples of services provided by these expert consultants include market identification / market diversification, supply chain solutions, process improvement to increase capacity, quality systems, supplier scouting, export activities, technology adoption and implementation, executive coaching and more.

Maryland Economic Adjustment Fund (MEAF)

$770,000 has been awarded to recapitalize the Maryland Economic Adjustment Fund (MEAF) program. MEAF provides loans of up to $150,000 for small and underserved businesses with fewer than 50 employees.
Note: New applications for the program are presently being accepted.  The submission of an application is not as assurance of approval.

Cost-Free HVAC Ventilation Assessment by RMI for Maryland Manufacturers

Manufacturers can potentially reduce the risk of business disruption from COVID-19 and other respiratory pathogens by improving facility airflow, filtration & ventilation. RMI's NO-COST Manufacturing Disruption Mitigation Assistance Program (MDMAP) can help Maryland manufacturers with this process.

Emergency Grant Applications Now Open!

With the passage of the RELIEF Act of 2021 by the Maryland General Assembly, MSAC will distribute $5 million through its Emergency Grant Program. Created in March 2020 in response to the COVID-19 State of Emergency, Emergency Grants provide funding to arts organizations and artists for losses sustained because of programming, operations, and events that have been modified or cancelled. The Emergency Grant for Arts Organizations application is currently closed, but the Emergency Grant for Independent Artists & Special Request Grant programs are still accepting applications.

SDAT's new online capabilities with regard to Good Standing status:

The Department has created a new Good Standing Checklist for business owners to proactively determine whether or not their business is in Good Standing with SDAT, and instruct them how to correct any deficiencies. SDAT strongly encourages all business owners to confirm now whether or not their business is in Good Standing by looking it up on SDAT’s free on-line search. The Department also encourages business owners to sign up to receive updates and timely email reminders to file these important documents.  

Fake “2020 Certificate of Good Standing Request” Letter. The Office of the Attorney General has been alerted that businesses in Maryland are receiving a letter entitled “2020 Certificate of Good Standing Request Form” that requests a fee in exchange for a letter of good standing with an “official seal of the Secretary of State.” This letter is a SCAM. 

Other Programs


If your business qualifies, you’ll have the opportunity to receive marketing consultations, media placements, commercial creative production services, or technology services from Effectv and Comcast Business. Businesses in select markets may apply for $10,000 Grants!

There are separate applications for the marketing and technology services awards and the Comcast RISE Investment Fund. Eligible business owners may apply for either, or both programs.

  • Marketing Services & Tech Makeovers - Applications for Comcast RISE Marketing & Technology Services opened on August 1, 2021 and will close on October 17, 2021.
  • Investment Fund - Applications for the Comcast RISE Investment Fund will be accepted October 1-14, 2021. However, only available to businesses in certain areas.

Please use this link for details on the selection criteria and to apply.

Rural and Underserved Business Recovery from Impact of COVID-19

BGE Energizing Small Business Grants Program – Current BGE Gas or Electric Customers

Eligible businesses located in BGE’s service area can apply for grants of up to $20,000, beginning January 20. BGE, an Exelon Company, launched its Energizing Small Business Grants Program as part of its $15 million pledge to assist small businesses with COVID-19 relief and recovery. Eligible businesses located in BGE’s service area will have three opportunities to apply for grants of up to $20,000:

Round 1: January 20 – March 3, 2021 
Round 2: May 5 – June 16, 2021
Round 3: September 1 – October 13, 2021

Applicants must be a for-profit business and an existing BGE electric and/or gas customer with positive BGE credit history. Preference will be given to minority-owned and woman owned-owned businesses. Review full criteria and apply at