Investments Include $5 Million for Economically and Socially Disadvantaged Entrepreneurs, $3 Million for Arts Organizations
In Total, Governor Hogan Has Committed $475 Million In New Investments For Critical Sectors of Maryland’s Economy
ANNAPOLIS, MD—Governor Larry Hogan today announced $190 million in relief to help colleges, small businesses, and nonprofit organizations affected by the COVID-19 pandemic. In total, over the last week, the governor has announced $475 million in new investements through the federal CARES Act.
“As Maryland continues to grapple with an unprecedented fiscal crisis, we are directing more than $475 million in federal resources to critical sectors of our economy,” said Governor Hogan. “These resources will help make a difference in areas where they are needed most.”
$50 Million in Additional Assistance for Small Businesses
$45 million will be allocated to expand the Maryland Small Business COVID-19 Emergency Relief Grant Fund. This program, which awards grants of up to $10,000 to businesses of 50 or fewer employees, has provided more than $40 million in funds to 4,073 applicants. These additional resources will be used to help pending applicants.
$5 million will be allocated to the Maryland Small Business Development Financing Authority to provide financing to businesses owned by economically and socially disadvantaged entrepreneurs. MSBDFA uses include working capital, supplies and materials, machinery and equipment acquisition, land acquisition, or real estate improvements.
$50 Million for the Maryland Nonprofit Recovery Initiative
$50 million to establish the Maryland Nonprofit Recovery Initiative, which will help organizations address the revenue reductions and expense increases that are due to the economic and safety impacts of the COVID-19 pandemic. The goal of the initiative, which will be operated by the Department of Housing and Community Development (DHCD), is to help stabilize and sustain a range of nonprofit operations, including affordable housing and disability nonprofits.
Of this $50 million, up to $8 million will be allocated to nonprofit applicants that have already applied for relief through the Maryland Small Business COVID-19 Emergency Relief Grant Fund.
Of this $50 million, $3 million will be awarded through the Maryland State Arts Council’s (MSAC) Emergency Grant Program. In response to the COVID-19 State of Emergency, MSAC has created special grant opportunities that provide emergency funding to arts organizations and artists for losses sustained because of programming, operations, and events that have been modified or cancelled.
$90 Million for Higher Education
Up to $90 million will be allocated to reimburse state-supported universities for COVID-19 related expenses, including support for their public safety activities.
12 comments:
Adolph Hogan is taking care of his Third Reich buddies by including them in this tax payer giveaway. Higher Education, arts organizations and artist and non-profits should not be included in this covid relief program. Total waste of money.
Where is Adolph Hogan getting this money? IS Hitler stealing from the Maryland State Employee Retirement Fund. Is Hitler going to raise our MD taxes again for these tax payer funded programs?
Hogan is just passing on the newly printed currency from the Federal Reserve Bank. The bank is financing the overthrow of US Government using counterfeit currency.
Pure evil
This is while essential state employees aren't getting a COLA.
Priorities????
How about some MILLIONS for us working class familys ???
How about some covid-19 Stimulus $$$$ & unemployment $$$$ !!!
Just paid the bills for college educators and unions and didn’t give cost of living to Maryland state employees or retirees. Sick.
Where is all this money coming from?
LOL! Where does Hogan plan to get the money? Maryland is already facing a 2 TRILLION dollar budget shortfall this fiscal year and at least 4 TRILLION in the next one. Maryland will be broke...there is no way to get around that!
$345 million for schools. Screw throwing more money at failures. Try this: I say spend $50,000 in paddles to whoop on the brats.
Hey, I just fixed the education system!!!
More money for a failing school system. Hogan is a clown
It's B.S. just checked the site and it says to try the federal SBA they don't have enough funds to assist new applicant small buisness. Can't figure out why I have to try to borrow money when their giving it away to unemployment.
4:42
Read 4:14
I agree 100%
Takes something like a national social explosion to move funding to services (Education). Funding that doesn't exist mind you.
Sad indeed!
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