Maryland Business Recovery Program

Purpose of the program

The Maryland Business Recovery Loan Program is an emergency program that provides financial assistance to small businesses affected by disasters. This program is only available when activated by the Secretary of the Department of Housing and Community Development for certain disasters.

Eligible Applicants

• Small businesses in Maryland
• The business must be located in a commercial space
• Non-profit organizations
  Remark:
  The applicant must be able to provide proof of insurance status

Eligible Companies

• Retail companies
• Production companies
• Goods and services related businesses
• The business must be located in Baltimore City, Baltimore County, Howard County, Frederick County, and Washington County and must show evidence of damage/loss related to flooding in May 2018.
  Remark:
  Some restrictions apply. See restrictions below

Eligible Uses of Funds

• Renovations
• Repair and replacement of furniture, inventory and equipment
• Stock replacement
• Loss of income / assistance with operating and lease costs
• Certain other costs associated with small business recovery, including working capital

Limits

The following types of projects and activities are not eligible for NBW funding unless the project involves another eligible business type (such as groceries, restaurants, etc.):

• Residential or temporary housing businesses, e.g., multi-family or single-family homes, nursing homes, assisted-living homes, crisis care centers, group homes, temporary housing, and homeless shelters
• Public facilities such as community spaces, fire stations, hospitals, colleges or universities
• Adult bookstores, adult video stores, other adult entertainment facilities, gambling facilities, gun stores, massage parlours, pawnshops, tanning salons or tattoo parlors

For more information, please contact:

Colleen Cord Malone

Business Loan Programs, Manager II

Phone: 301-429-7517 Toll Free: 1-800-756-0119

E-mail:
[email protected]

OR

Aisha K. Taylor

Business loan programs, loan insurer

Phone: 301-429-7721 Toll Free: 1-800-756-0119

E-mail:
[email protected]

Maryland Department of Housing and Community Development

Neighborhood BusinessWorks Program

7800 Harkins Road, 4th floor

Lanham, Maryland 20706

Phone: 301-429-7408 or Toll Free: 1-800-756-0119 Fax: 410–558-6527

MD Relay for the Deaf: 1-800-735-2258