The Montgomery County Council passed Bill 16-20 on March 31, 2020, providing two grant programs for Montgomery County businesses. The Public Health Emergency Grant Program provides funding up to $75,000 per business or nonprofit with a principal business location in the County and 100 or fewer full-time equivalent employees. The business must show that they have suffered significant financial losses caused directly or indirectly by COVID-19. Grant funding must be used for employee wages and benefits, taxes, debt, rent or other operating losses. The Microgrant Program provides funding for local businesses and nonprofits up to $2,500 to cover the costs associated with purchasing teleworking equipment and technology.
Regulations implementing this Bill and an application for grant funds are expected shortly. Additional lending programs may also become available. For information on additional state grant and lending programs please click here.
For questions on whether your business qualifies for Montgomery County’s Public Health Emergency Grant Program or Microgrant Program, please contact Jordan Savitz at Jordan.email@example.com.
ABOUT JORDAN SAVITZ
As a member of Offit Kurman’s Business Law and Transactions practice group, Jordan Savitz advises clients in all stages of the business life cycle. He assists clients with matters including, but not limited to, choice of entity, complex operating and stockholder agreements, compliance with Rule 506 of Regulation D, real estate leasing, employment agreements, website terms and conditions, trademark filings, complex contract drafting and negotiation, succession planning, as well as stock and asset purchase agreements.
ABOUT OFFIT KURMAN
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