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{"id":73960,"date":"2020-11-05T17:19:52","date_gmt":"2020-11-05T22:19:52","guid":{"rendered":"http:\/\/www.ryanandwetmore.com\/?p=73960"},"modified":"2022-06-27T22:22:56","modified_gmt":"2022-06-27T22:22:56","slug":"maryland-strong-economic-relief","status":"publish","type":"post","link":"https:\/\/www.randwpc.com\/rwblog\/maryland-strong-economic-relief\/","title":{"rendered":"Maryland Strong: Economic Relief"},"content":{"rendered":"\n\n\n\n\n

What to Know About Maryland’s New Economic Relief Program<\/h2>\n\n\n\n

If you\u2019ve heard of Maryland\u2019s increased economic stimulus announced by Gov. Larry Hogan, the \u201cMaryland Strong: Economic Recovery Initiative\u201d<\/a> pumps an additional $250 million into this existing programs and others.<\/p>\n\n\n\n

Here are the\nmain parts of the plan:<\/p>\n\n\n\n

  1. $50M expansion of the Small Business\nCOVID-19 Relief Grant Fund
    \n(this is just going to clear the backlog \u2013 no new applications)<\/li>
  2. $50M in direct relief for restaurants<\/li>
  3. $20M in direct relief for main street\nbusinesses
    \n(i.e. businesses in the Main Street Maryland Program or the Baltimore Main\nStreets Program)<\/li>
  4. $20M expansion of COVID-19 Layoff\nAversion Fund
    \n(This provides up to $50,000 mainly for expenses associated with COVID safety\nmeasures and remote work to avert layoffs \u2013 applications opened on October 28th<\/sup>)<\/li>
  5. $5M expansion of Small and Minority\nBusiness Low-Interest Loans<\/li>
  6. $3M expansion of Arts Organization\nFunding<\/li>
  7. $2M for local Destination Marketing\nOrganizations
    \n(tourism promotion)<\/li>
  8. $100M for an \u201cEmergency Rapid\nResponse Fund for small businesses\u201d
    \n(It is uncertain at this point when or where this will be deployed)<\/li><\/ol>\n\n\n\n

    Businesses receiving or seeking other assistance (such as PPP) should be especially careful not to \u201cdouble-dip\u201d and list expenses in multiple programs.<\/p>\n\n\n\n

    Maryland businesses can find a list of state and federal programs that offer assistance to businesses here<\/a>.<\/p>\n\n\n\n

    Stay posted for email updates from Ryan and Wetmore.<\/p>\n\n\n\n

    <\/div>\n\n\n\n
    \n
    Contact us<\/a><\/div>\n<\/div>\n\n\n\n
    <\/div>\n\n\n\n

    Today’s Thought Leaders<\/strong><\/p>\n\n\n\n

    Contact us today by calling 301-585-0506.<\/tcxspan><\/strong><\/p>\n\n\n\n

    \"Chloe<\/figure>
    \n

    About Chloe Parker<\/strong><\/h3>\n\n\n\n

    Senior Manager, CPA, & MBA<\/strong><\/h4>\n\n\n\n

    Chloe Parker is a Manager in our Bethesda, MD office. Since joining the firm in 2011, Chloe has worked closely with entrepreneurial clients on tax, audit, and accounting issues. Chloe works across industries including government contracting, construction, manufacturing, and professional services industries. <\/p>\n\n\n\n

    Read Chloe’s full bio here<\/a>.<\/p>\n<\/div><\/div>\n\n\n\n

    \"Jack<\/figure>
    \n

    About Jack Ramsey<\/strong><\/h3>\n\n\n\n

    Finance Consultant<\/strong><\/h4>\n\n\n\n

    Jack Ramsey is a Finance Consultant at Ryan and Wetmore. He focuses on government contractor services as well as research and analysis of the economic, tax, and regulatory environment. Jack graduated from American University with a Bachelor of Science in Economics. <\/p>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":2,"featured_media":79925,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","_themeisle_gutenberg_block_has_review":false,"_ti_tpc_template_sync":false,"_ti_tpc_template_id":"","footnotes":""},"categories":[230],"tags":[80,160],"class_list":["post-73960","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-start-ups","tag-small-business","tag-small-businesses"],"yoast_head":"\nMaryland Strong: Economic Relief -<\/title>\n<meta name=\"description\" content=\"Gov. 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