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.firstname.lastname@example.org.
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
Offit Kurman is one of the fastest-growing full-service law firms in the United States. With 14 offices in seven states, and the District of Columbia, and growing by 50% in two years through expansions in New York City and Charlotte, North Carolina, Offit Kurman is well-positioned to meet the legal needs of dynamic businesses and the individuals who own and operate them. For over 30 years, we’ve represented privately held companies and families of wealth throughout their business life cycles.
Whatever and wherever your industry, Offit Kurman is the better way to protect your business, preserve your family’s wealth, and resolve your most challenging legal conflicts. At Offit Kurman, we distinguish ourselves by the quality and breadth of our legal services—as well as our unique operational structure, which encourages a culture of collaboration and entrepreneurialism. The same approach that makes our firm attractive to legal practitioners also gives clients access to experienced counsel in every area of the law.
Find out why Offit Kurman is The Better Way to protect your business, your assets and your family by connecting via our Blog, Facebook, Twitter, Instagram, YouTube, and LinkedIn pages. You can also sign up to receive LawMatters, Offit Kurman’s monthly newsletter covering a diverse selection of legal and corporate thought leadership content.
DELAWARE | MARYLAND | NEW JERSEY | NEW YORK | NORTH CAROLINA | PENNSYLVANIA | VIRGINIA | WASHINGTON, DC