COVID-19 Resources for Businesses

Please note:  The State of Maryland (MD Labor) does not have affiliations with any of these organizations.  Any specific questions about grant eligibility should be directed to contacts on their websites

Funding Opportunities

• Dream Big Awards – Offers a $25,000 cash prize to the Small Business of the Year winner. The application deadline is July 16, 2021. You can apply for the awards as a small business or be referred by a local Chamber of Commerce or trade organization. Learn more here.  
• Nav’s Small Business Grant – Nav, a loan and credit card matching service has a 2021 round of grants to help small businesses. The grand prize winner receives a $10,000 grant and the runner-up received $5,000. Applications are open through May 31, 2021. Learn more here.  
• GoFundMe Small Business Relief matching grant – The GoFundMe.org Small Business Relief Fund will provide micro-grants to qualifying small businesses negatively impacted by the COVID-19.  If your business raises up to $500, you can get a $500 match from the fund.  Learn more here.
• Black Founder Startup Grant – SoGal Foundation has teamed up with Winky Lux, bluemercury, twelveNYC, Twilio, and other sponsors to provide $10K and $5K cash grants to Black women or nonbinary entrepreneurs.   Applications are rolling – more info can be found here.
• Black Restaurant Accelerator Program – In partnership with PepsiCo Foundation, the National Urban League through its 12 Entrepreneurship Centers in cities across the U.S., has launched the Black Restaurant Accelerator Program (BRAP).  The Program will provide direct grant assistance grants to 500 businesses, and technical assistance, including entrepreneurial coaching.  Must be Black-owned food service company located in in the service area of a National Urban League Entrepreneurship Center in one of the following cities: Atlanta, GA; Baltimore, MD; Chicago, IL; Cincinnati, OH; Cleveland, OH; Houston, TX; Jacksonville, FL; Las Vegas, NV; Los Angeles, CA; New Orleans, LA; Philadelphia, PA; and Washington DC. Learn more here. 
• Digital Undivided Fellowship  – The Do You Fellowship Program will award 10 promising Black and Latinx women innovators with a $5,000 investment in their business and access to unparalleled resources and mentorship necessary to develop their businesses. To learn more and register to be notified when the applications are available, click here.
• Black Girl Ventures Pitch Competition – The BGV Pitch Competition is crowdfunding meets pitch competition. Each founder has 3 minutes to pitch and a 3 minute Q&A from the audience. Learn more here. 
• For Artists – Artwork Archive’s Art Business Accelerator Grant –  awards visual artists with 10 cash grants of $2,500 each. This grant gives artists an unrestricted cash grant, six weeks of self-guided online educational resources and one-on-one expert career guidance. The 2021 grant cycle is open March 1, 2021 – May 14, 2021  Learn more here. 

Award Opportunity

• Citizen Awards – The U.S. Chamber of Commerce Foundation has opened nominations for its annual Citizens Awards, which includes a category for small business.  (Looks like this is an award in name only – no financial award) Deadline to submit is June 25, 2021.  Learn more here. 

Other Resources

• Leniency from credit card companies – Many credit card companies have released statements announcing that they’ll be giving COVID-19 relief for small businesses. They’re doing this by waiving service fees for 30 days, or offering other types of disaster relief assistance. Be sure to check with your bank or credit card company to find out if they are offering any special services during the COVID-19 pandemic.
• Questions about PPP Loans?   The SBA will continue to accept PPP loan applications until May 31, 2021.  This US Chamber webpage has some great info on this page about “23 Frequently Asked PPP loan questions”.     
• The US Chamber also has a section of their website devoted to “saving small business”.  Some great resources and funding opportunities are mentioned here.  

Maryland RELIEF Act Support for Businesses

Frequently Asked Questions: PPP-FAQs-3.12.21.pdf (sba.gov)

How to Calculate First Draw Loans: How to Calculate First Draw PPP Loan Amounts (sba.gov)

How to Calculate Second Draw Loans: HowtoCalculateSecondDrawFAQs-3.12.21.pdf (sba.gov)

Maryland RELIEF Act Support for Businesses

With the passage of the RELIEF act of 2021 by the Maryland General Assembly, new COVID-19 relief will soon be made available for certain Maryland businesses through the Maryland Department of Commerce. They anticipate accepting initial applications for the new funding in mid-March and will update their website as details about these Commerce programs become available.  The funding will be targeted toward certain groups of businesses including: 

• $10 million for businesses who do not collect sales tax and can demonstrate a need for assistance
• $500,000 for businesses seeking to set up online sales or help employees telework 
• $10 million for small, minority and women-owned businesses 
• $8 million for private commuter bus operators and local transit systems

 Visit the business resources website for additional funding available and the latest information. 

SBA PPP Updates

Please join us for a webinar Thursday, March 4^th from 4:00 – 4:30 Eastern.

Click here at 4:00 Eastern to join the Microsoft Teams Live webinar. This link may be used multiple times and by different people.

We will be discussing the new interim final rule on revisions to loan amount calculation for filers of IRS Form 1040 Schedule C, available here:

Please also see the following updated PPP borrower and lender application forms: 2483; 2483-SD; 2483-C; 2483-SD-C; 2484; 2484-SD

The webinar is open to resource partners, SBA Lenders, SBA staff, and other interested parties.

1. The webinar will not be recorded.

2. We will distribute the slide deck via Michelle King after the webinar. You may distribute the slide deck to lenders.

3. The call is open to the public.

4. Sound issues are usually caused on the user’s end and are often due to bandwidth issues. If you experience sound issues, try closing out of the event and re-entering. You can also trying refreshing the screen by clicking the F5 key. Microsoft Edge or Google Chrome will provide the best user experience. We can’t address sound issues on our end.

5. There will not be any sound until the event begins.

We will be discussing the new interim final rule on revisions to loan amount calculation for filers of IRS Form 1040 Schedule C, available here:

Please also see the following updated PPP borrower and lender application forms: 2483; 2483-SD; 2483-C; 2483-SD-C; 2484; 2484-SD

PPP Q&A Updates

Question: Is there a deadline where SBA will no longer be accepting the use of the previously issued Forgiveness forms

Answer: The new 3508 form is effective immediately. SBA is allowing lenders 60 days (March 5^th, 2021) to process the forgiveness request from borrowers that were in the pipeline prior to the issuance of the new forms. Any new forgiveness requests from borrowers must be using the new forms.  

Question: In regard to Procedural Notice 5000-20092 (attached), Can I send encrypted messages to SBA to correct EIN/DUNS issues

Answer: NO, lenders should use  – Link to send corrections to CLSC

Question: In preparation for the EIDL adjustment payments which are expected to begin tomorrow, please clarify:

The Procedural Notice 5000-20075 specifies: If the amount remitted by SBA to the PPP lender exceeds the remaining principal balance of the PPP loan (because the borrower made a payment on the loan), the PPP lender must remit the excess amount, including accrued interest paid by the borrower, to the borrower.

In many cases, borrowers paid off the remaining balance attributable to the EIDL advance amount as soon as the initial forgiveness decision was issued. In some cases this was several months ago.

The borrower will have paid interest on the EIDL balance through the date of their payoff, and the SBA will be sending payment  of the EIDL advance with interest through the current date.

This will result in the bank receiving payment from the SBA which is in excess of the remaining balance, but also includes more interest than the borrower paid to the bank.

What should the bank do with this excess interest? May the bank keep it, or should it be remitted to the borrower even though it is more than the borrower paid, or does it need to be returned to the SBA?

Answer (from PPPForgivenessRequests): A PPP borrower is not entitled to funds in excess of the PPP loan amount plus any accrued interest paid. If the PPP lender receives excess funds please use the following guidance:

Less than $10 Overpayment 

SBA has determined that it is not cost effective to require Lenders to return forgiveness overpayments of $10 or less and, accordingly, Lenders need not return the funds to SBA if the amount of the overpayment with respect to a particular PPP loan is $10 or less.  In such cases, instead of returning the overpayment to SBA, the Lender must credit any remaining balance on the PPP loan for which the overpayment was made by the amount of the overpayment.  If there is no remaining balance, the Lender may retain the overpayment. 

 More than $10 Overpayments: 

For loans with overpayments of more than $10.00, you will need to keep a list of those loans, as SBA is working on procedures for processing overpayments.  For now, please just maintain a list of any overpayments you may have, and when those procedures are released you can follow them to return any necessary funds. 

Rockville City Covid updates

View this email in your browser

CITY UPDATES The COVID-19 vaccination program, administered by the Montgomery County Department of Health and Human Services, is preregistering people based on their priority group status, as set by the state of Maryland. To preregister, visit Montgomery County’s COVID-19 portal or call 240-777-2982.  For more information about vaccine distribution and priority groups, sign up for the county’s email/text vaccine updates. Demand is high and supplies limited. Anticipate delays when you call. Seniors who don’t have access to the internet can call the state’s new COVID-19 Vaccination Support Center: 1-855-MDGOVAX (1-855-634-6829). A new portal, at covidvax.maryland.gov, allows eligible Marylanders to enter their address, ZIP code or location to view vaccination clinics available within a 50-mile radius.   Transportation for Seniors If you need a ride to a vaccination appointment, call:  Senior Connection at 301-962-0820.  Connect-A-Ride at 301-738-3252.  The Rockville Senior Center’s Call and Ride program is available during this crisis to provide taxi coupons to seniors in need of transportation.  Seniors living within the city limits of Rockville and in need of transportation can call 240-314-8810 for assistance. COUNTY, STATE AND FEDERAL UPDATES Gov. Hogan Announces Identification of New Coronavirus Variant in Maryland Maryland COVID-19 Vaccine Update: Feb. 18 County to Host Online Conversation on Pediatric Wellness During the Pandemic COVID-19-Related Scams Targeting County Residents TRACKING AND DASHBOARDS Montgomery County COVID-19 Data Dashboard Maryland COVID-19 Data Dashboard Maryland Vaccination Data Dashboard CDC RESOURCES Transmission in K-12 Schools What You Need to Know: Schools and Child Care Programs​ Frequently Asked Questions About COVID-19 Vaccination OTHER RESOURCES COVIDConnect If you have recovered or are recovering from COVID-19, you can connect with others who have been through the same experience on COVIDConnect. COVIDConnect is a free platform where you can share your recovery story, learn about research opportunities, find mental health resources and more. Register to participate today.

2021 Child Care Relief Fund Grant Application (now accepting applications) The Consolidated Appropriations Act of 2021 provides $10 billion in much-needed direct pandemic-related relief for the child care sector. These funds can be used to support providers facing reduced enrollment and increased costs of serving children safely, reduce family co-payments, pay staff salaries, provide care for the children of essential workers regardless of income, support costs related to reopening, and more. MSDE is pleased to provide the Child Care Pandemic Relief Fund Grant application to all operating child care programs in Maryland.  https://earlychildhood.marylandpublicschools.org/child-care-relief-funds-grant  Hotel and Motel Grants (Anne Arundel County Only) Grant opens on 2/19/2021 Anne Arundel Economic Development Corporation (AAEDC) is able to disburse $5 million from the State of Maryland to fund grant applications from hospitality businesses such as hotels, inns, and bed and-breakfast establishments.  https://www.aaedc.org/business/financing-and-tax-credits/hotel-relief-grant/ Nav’s Small Business Grant –  between January 19th and March 8th   Up to $10,000 to take your business to the next level. Submit entries between January 19th and March 8th for your chance to win.https://www.nav.com/business-grant-contest/Each quarter,  Nav offers a $10,000 small business grantto help them solve a business problem or take their business to the next level. Health Care Quality Accounts Grants Program The Office of Health Care Quality (OHCQ) of the Department of Health and Mental Hygiene (DHMH) seeks applications for grants for projects designed to improve the quality of care provided to residents in nursing homes and/or assisted living facilities.  https://health.maryland.gov/ohcq/Pages/Grants.aspx FedEx Small Business Grant Contest (2/16/2021 to 3/9/2021) Running a small business isn’t easy. And in 2020, it was as difficult as it’s ever been. What could you do with $50,000 for your small business? This year, the FedEx Small Business Grant Contest is offering over $250,000 in cash and prizes to 12 winners. Entering is a great opportunity to gain exposure for your business and connect with your community and your fans – and winning could help write the next chapter of your story. Start thinking about how you want to tell your story: What do you want to share about your business? What could a grant help you accomplish? https://www.fedex.com/en-us/small-business/grant-contest.html

Paycheck Protection Program (PPP) data

Paycheck Protection Program (PPP) data, as of January 31, posted last night. Items to note in the first 20 days of this newest round of PPP funding include the following points:

• More than 891,000 PPP loans totaling over $72.7 billion have been approved.
• Approximately 68% of these PPP loans have been for $50,000 or less (and 81% for $100,000 or less), with the average PPP loan size being $82,000; such stats reinforce the smallest of small businesses continue accessing the funding.
• Approximately 75% of the PPP loans are Second Draw PPP loans, demonstrating that small businesses are returning to get this much-needed economic lifeline to keep their employees on payroll and support the continuance of their business operations.

The PPP report also shares state and other data – including limited demographic information, as nearly 78% did not provide ethnicity information, more than 91% did not provide gender information, and nearly 93% did not indicate veteran status.

Paycheck Protection Program (PPP) Update

Paycheck Protection Program (PPP) Update – Saturday, January 23, 2021

SBA, in continuing established communications messaging, provides the following:

SBA is receiving a significant number of questions from lenders regarding the revised rules on First Draw PPP loans, First Draw Loan Increases, Second Draw PPP loans, and streamlined Forgiveness.  SBA wants to assure all participants and their small business customers that we understand that there are many changes that businesses have undergone since the beginning of the pandemic in order to maintain operations and continue employing America’s workers.  These changes may include entity size, location or staffing, methods of operation, organizational structure, and changes in ownership.  SBA is working with national lender trade associations and stakeholder groups along with lenders to identify these potential program and system updates.    Your partnership, commitment, input and patience greatly assist in this effort. 

SBA is providing this information along with recently released additional PPP guidance and resources. To assist lenders in how to best access PPP as amended by the Economic Aid Act, here are a couple of reminders related to existing program guidance:  

Reminder – First Draw PPP Loans Under Review May Be Delayed Getting Second Draw PPP Loan number

As described in SBA’s interim final rule on SBA Loan Review Procedures and Related Borrower and Lender Responsibilities, SBA may review any PPP loan, of any size, at any time, as the Administrator deems appropriate.  If a borrower’s First Draw PPP Loan is under review by SBA for any reason, including if information in SBA’s possession indicates that the borrower may have been ineligible for the First Draw PPP Loan it received or for the loan amount it received, the lender will receive notification from SBA when the lender submits an application for a guaranty of a Second Draw PPP Loan, and will not receive an SBA loan number until the issue related to the unresolved borrower’s First Draw PPP Loan is resolved.  SBA is working to improve the information provided to lenders about the issues and how lenders can help clear issues as expeditiously as possible.

Reminder – Second Draw loan applications require an SBA loan number used for the First Draw PPP loan that was originated in 2020.  Please verify that the applicant has the correct SBA loan number, and the correct Borrower TIN to assure that the portal can match up the two loans.

Recent Guidance Issued:

• Second Draw Paycheck Protection Program (PPP) Loans:  How to Calculate Revenue Reduction and Maximum Loan Amounts Including What Documentation to Provide (Released 1/19/2021) provides detailed information regarding calculating and documenting the mandatory 25% reduction in revenues and maximum loan amount.
• PPP: How to Calculate Maximum Loan Amounts for First Draw Loans  and What Documents to Provide (sba.gov) (released 1/17/2021) provides updated guidance, by business type, regarding calculating  and documenting payroll costs in order to determine the maximum amount of a First Draw loan.
• Interim Final Rule: Loan Forgiveness Requirements and Loan Review Procedures as Amended by Economic Aid Act (01-19-21)
• PPP LOAN FORGIVENESS APPLICATION FORM 3508 (REVISED 1/19/21)
• PPP LOAN FORGIVENESS APPLICATION FORM 3508EZ (REVISED 1/19/21)
• PPP LOAN FORGIVENESS APPLICATION FORM 3508S (REVISED 1/19/21)
• BORROWER’S DISCLOSURE OF CERTAIN CONTROLLING INTERESTS FORM 3508D(RELEASED 1/19/2021).THE 3508-D ONLY NEEDS TO BE COMPLETED BY BORROWERS THAT RECEIVED A PPP LOAN BEFORE 12/27/20 AND WERE DIRECTLY OR INDIRECTLY CONTROLLED BY CERTAIN GOVERNMENT OFFICIALS (PRESIDENT, VP, MEMBER OF CONGRESS, HEAD OF EXECUTIVE DEPARTMENT AND THEIR SPOUSES) AT THE TIME THE LOAN WAS MADE.

For more information and updates, visit SBA.gov/PPP or Treasury.gov/CARES 

New forgiveness forms for PPP for <$150
Roderick L. Johnson, U.S. Small Business Administration Washington Metropolitan Area District Office

The attached Interim Final Rules were published last night. They can be accessed on the following official websites;

The CARES Act Provides Assistance to Small Businesses | U.S. Department of the Treasury

https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program

The attached “Guidance on Accessing Capital for Minority Underserved Veteran and Women Owned Business Concerns was also published last night. A copy is attached as well as the weblink below.

Microsoft Word – Guidance on Accessing Capital for Minority Underserved Veteran and Women Owned Business Concerns .docx (sba.gov)

We have also attached the new legislation signed by the President on December 28th. This document has been downloaded directly from the Congress.gov website. The link to the legislation is below.

Text – H.R.133 – 116th Congress (2019-2020): Consolidated Appropriations Act, 2021 | Congress.gov | Library of Congress

As we receive additional official guidance from the Small Business Administration and the Department of Treasury we will send it out immediately. In the meantime thank you for your patience and continued support of our small businesses.

When sending an email, please use the following format for the subject line:

Bank Name – Bank Location ID – Bank FIRS # – Subject ( If Location ID and FIRS numbers are unknown please leave blank).

Also, please assure that your full contact information (Company, Name & Title, Business Phone, Cell Phone, Email, and Address) is in the signature line of you message.

Please indicate your preferred direct contact phone number.

To better serve you, if you are not located in the area supported by the Washington Metropolitan District Office, please contact your Lead District Office if you have questions. Your Lead District Office is the District Office serving the geographic area where the lender’s principal office is located.

Click HERE for a list of Rockville Restaurants open for business organized by shopping center.