COVID-19 Business Relief Fund Application Deadline Extended to May 22nd
Yesterday, Prince George’s County Executive Angela Alsobrooks announced that the County, subject to County Council approval, is contributing an additional $10 million in funding into its COVID-19 Business Relief Fund to help support and sustain its local businesses. This announcement comes in coordination with the County Executive’s decision to extend the County’s Stay at Home order through June 1st. In response to the tremendous need and interest in the Business Relief Fund program, County Executive Alsobrooks has also directed an extension of the Fund deadline to May 22nd.
“I am pleased to be working with our County Council to make these additional funds available to the Prince George’s County business community,” said County Executive Alsobrooks. “Small businesses make up more than 90% of the companies in Prince George’s County. They are our neighbors and our friends, and right now they are hurting. Together, with the resources coming from the federal government and the State of Maryland, our goal is to help our small businesses survive through this pandemic and be able to come out on the other side of it stronger than ever.”
Originally announced in April, the multi-million-dollar Prince George’s County COVID-19 Business Relief Fund, administered in partnership with the Prince George’s County Economic Development Corporation and FSC First, was created to provide financial assistance to businesses affected by the COVID-19 crisis and consists of low-cost loans of up to $100,000 and grants up to $10,000. Recipients can utilize the Relief Fund to support cash operating expenses including payroll, suppliers, rent, fixed debt payments and other business-critical cash operating costs.
“The additional funding for the County’s COVID-19 Business Relief Fund will continue to help small, local, and minority-owned enterprises in the County that still face closure and layoffs, and will sustain those operations during the coronavirus emergency,” said County Council Chair Todd Turner. “The use of funding from the Federal Coronavirus Aid, Relief, and Economic Security (CARES Act) will further provide financial assistance available to County-based businesses and employees as intended by Congress. We thank our Federal partners, and County Executive Angela D. Alsobrooks and her team, for their invaluable partnership in response to COVID-19.”
In addition to the $10 million, the Relief Fund was presented with a contribution of $65,000 from Baltimore Gas and Electric as part of its outreach to the Prince George’s County business community. Since its inception, the COVID-19 Business Relief Fund has received more than 1,400 applications with additional applications in the pipeline and has processed more than 400 applications. More than 100 companies have received commitments totaling more than $4,117,500. The County disbursed its first loans and grants to 15 companies in the amount of $780,000 within 27 days of its announcement.
The additional funding will be focused on expanding the program to address the needs of sole proprietors, 1099 independent contractors and co-ops, as these entities were previously ineligible for the loans and grants.
For more information about the Prince George’s County COVID-19 Business Relief Fund, visit