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Rockville-based Supernus to acquire Adamas Pharmaceuticals

Posted on by Amanda Bosland

Supernus' acquistion brings a new Food and Drug Administration (FDA)-approved drug to its portfolio of Parkinson's disease treatments

Article Originally Published by Rockville Nights on October 12, 2021

Rockville-based Supernus Pharmaceuticals announced Monday that it is acquiring Adamas Pharmaceuticals, adding to its portfolio of Parkinson’s disease treatments. The deal will bring Adamas’ GOCOVRI (amantadine) extended release capsules, the first and only U.S. Food and Drug Administration (FDA)-approved drug for the treatment of both OFF and dyskinesia in patients with Parkinson’s disease who are receiving levodopa-based therapy; and Osmolex ER® (amantadine) extended release tablets, which is FDA-approved for the treatment of Parkinson’s disease, and drug-induced extrapyramidal reactions in adults.

The deal is a financial win for Adamas stockholders, and will expand the revenue base and cash flow of Supernus. “This acquisition represents a significant step to further build a strong and diverse Parkinson’s disease portfolio, and aligns with our focus of acquiring value-enhancing, clinically-differentiated medicines to treat CNS diseases,” Jack Khattar, President and CEO of Supernus Pharmaceuticals said in a statement. “We have a proven track record of strong commercial execution, and look forward to building on GOCOVRI’s growth momentum so that more patients can benefit from access to Adamas’ innovative neurological therapies.”

Once again, biotech – along with residential housing construction – remain the only bright spots in an otherwise moribund and stagnant Montgomery County economy. This is largely because the smart decisions that led to the growth of Montgomery’s biotech sector were made before those who wrecked the County’s economy took office in 2002, 2006 and 2010. Supernus is located at 9715 Key West Avenue in Rockville.

Source: http://www.rockvillenights.com/2021/10/rockville-based-supernus-to-acquire.html

 

Emmes President and CEO named among Washington Business Journal’s 2021 ‘Women Who Mean Business’

Posted on by Amanda Bosland
Congratulations to Christine Dingivan, President and CEO of Emmes!
Emmes is a global full service clinical research organization (CRO) dedicated to supporting the advancement of public health and biopharmaceutical innovation. Emmes serves on REDI’s Board of Directors as Vice Chair.

ROCKVILLE, Md., October 11, 2021 — Christine Dingivan, President and CEO of Rockville-based clinical research organization Emmes, was recognized among the Washington Business Journal’s 2021 ‘Women Who Mean Business’ award recipients.

Dingivan joined Emmes in September 2020 at the height of the industry’s response to Covid-19. Emmes was a key contributor to the data and statistical analysis work for Moderna’s Covid vaccine trials and the National Institute of Health’s evaulation of Covid-19 treatments. Under Dingivan’s leadership, Emmes grew, expanding its network internationally and increasing its employees by 200 in 2021.

The 2021 Washington Business Journal ‘Women Who Mean Business’ honored 25 women at an awards banquet on Thursday, October 7 at the Ritz Carlton in Washington D.C.  Each year women from various industries and professions across the Washington D.C. region who have made a difference in their communities, blazed a trail for others and are leaving an indelible mark on business in the region are selected from a public pool of nominations and determined by a panel of judges made up of program alumni.

Read Christine Dingivan’s Washington Business Journal ‘Women Who Mean Business’ profile here: Women Who Mean Business 2021 – Christine Dingivan

Maryland Department of Labor 2021 Employer Incentive Plan

Posted on by Amanda Bosland

The Maryland Department of Labor's Employer Incentive Plan (EIP) reimburses employers for a portion of the costs of On-the-Job Learning

The Maryland Apprenticeship Training Program (MATP) administered by the Maryland Department of Labor has allocated $3,260,957 to increase business participation in Registered Apprenticeship by creating the 2021 Maryland Employer Incentive Plan (EIP) initiative.

The EIP is a rolling reimbursement program, where employers receive repayment for a portion of the costs of On-the-Job Learning (OJL). All apprentices served through the EIP must be newly registered apprentices and must meet the criteria for Registered Apprentices. Learn more about Registered Apprenticeship Program here: 2020-2023 State Apprenticeship Expansion Grant

EIP Eligibility Requirements

The following entities are able to apply:

  • Employers who sign up to participate in an existing Group Joint or Group Non-Joint Registered Apprenticeship
  • Employers who register a new Registered Apprenticeship program
  • Sponsors and/or employers who reactivate a currently inactive Registered Apprenticeship
  • Sponsors and/or employers who register apprentices after implementation of the EIP

Employers can be private, public, or non-profit as long as they are a Registered Apprenticeship Sponsor or a signatory, or participating employer with a Group Joint or Group Non-Joint Registered Apprenticeship Sponsor approved by Maryland Department of Labor.

Reimbursement Requirements

Employers that partipate in the EIP are eligible for reimbursement for a portion of the costs of OJL. The breakdown for reimbursement amounts is as follows:

  • Businesses with 50+ employees (large employers) are eligible for reimbursement of 50% of the wage rate of apprentices for a maximum of 30 hours per week; or
  • Businesses with 49 or fewer employees (small employers) are eligible for reimbursement of 75% of the wage rate of apprenctices for a maximum of 30 hours per week

Maryland Department of Labor calculates reimbursement based on the first 13 weeks of actual employment not to exceed $3,120 per apprentice for large employers and $4,680 per apprentice for small employers.

  • For more information on the Maryland Apprenticeship Training Program (MATP) , please click the following link: MATP
  • For questions about MATP and EIP, please contact David Minges, Program Manager, MATP
 

The Rockville Chamber of Commerce Announces 2021 Rock Star Award Winners

Posted on by Amanda Bosland

The Rockville Chamber of Commerce (RCC) annually recognizes its 'Rock Stars of the Year' including Small Business of the Year, Entrepreneur of the Year, and Community Service Award

Press Release originally published by Rockville Chamber of Commerce on September 27, 2021

ROCKVILLE, MD — The Rockville Chamber of Commerce (RCC) annually recognizes its Rock Stars of the Year in the following categories: Small Business of the Year, Large Business of the Year, Non-Profit of the Year, Entrepreneur of the Year, Young Professional of the Year and the Community Service Award. Following are this year’s winners in each category.

Small Business of the Year Award recognizes a company that has been in business for at least five years with revenue under $5M. Specific criteria include: flexibility, innovation and has a proven unique business and marketing strategy that has benefited the Rockville community. The 2021 Small Business of the Year is SERVPRO of Rockville-Olney. Presented by last year’s winner, Pam Clark of Clark Concepts.

Large Business of the Year recognizes a company committed to the vitality and community in Rockville, which has over 50 employees and over $5M in revenue. Specific criteria include:  a commitment to their employees, their customers and has invested time, energy, and resources in the Rockville community. The 2021 Large Business of the Year is Marquis Health Services – Collingswood Rehabilitation and Healthcare Center. Presented by last year’s winner, Dan Cochran of Adventist Healthcare, Shady Grove Medical Center.

The Non-Profit of the Year recognizes outstanding practices among Rockville’s diverse non-profit organizations. Specific criteria include success in creating a lasting and beneficial impact for Rockville residents and sets a strong example for other non-profits in the community. The 2021 Non-Profit of the Year is Charity Connect.  Presented by previous award winner Andrea Kempner Wink, Community Reach of Montgomery County.

Entrepreneur of the Year recognizes a person who works for or operates a business taking on financial risk to do so, and identifies a need that no existing businesses address, and determines a solution for that need. Additionally, although the term “entrepreneur” is often associated with startups and small businesses, any founder of a successful household-named business began as an entrepreneur. Specific criteria include year over year growth, innovation, resilience, flexibility, and a unique business and marketing strategy, and a proven track record of commitment to the Rockville community and businesses. The 2021 Entrepreneur is Ryan Terko from Simply Nutrition.  Presented by last year’s winner, Josh Funk of Rehab2Perform.

Young Professional of the Year recognizes an individual who is active in the Young Professional’s group of our Chamber and steps up to a leadership role within their organization. Specific criteria include tenacity and an exemplary commitment to the Rockville community and businesses. The 2021 Young Professional of the Year is Marcy Santos. Presented by Asif Choudhury, Bahar Consulting.

Community Service Award: RCC started this award in 2020 to recognize extraordinary efforts of individuals with a generous spirit. Bob Blanken of Blanken Photography Studio receives the 2021 Community Service Award of the Year.  Presented by Board Chair, Babita Singh of WesBanco.

Award winners will be honored at a black-tie optional sit-down dinner at the Manor Country Club in Rockville on November 4, 2021. Tickets are available until October 28, 2021. Attendance is not exclusive to Chamber members. All business community members are encouraged to attend and celebrate the award winners.

Maryland Industrial Development Financing Authority

Posted on by Amanda Bosland

The Maryland Industrial Development Financing Authority (MIDFA) provides capital access and credit insurance to small and medium sized businesses for land or building acquisition, renovation, construction costs and more.

Maryland Department of Commerce MIDFA Resources – Friday, September 24, 2021

The Maryland Department of Commerce’s MIDFA promotes private sector investment in economic development projects through the insurance of financial obligations  and the issuance of taxable and tax-exempt bonds. The program promotes greater access to capital for small and medium sized businesses, and supports historically disadvantaged businesses in rural areas.

Eligible purposes include land acquisition, building acquisition, renovations, construction costs, machinery & equipment, furnishings & fixtures, leasehold improvements, eligible ‘soft costs’, and working capital. MIDFA facilitates capital access by issuing private activity revenue bonds and can provide credit insurance in the form of a loan guaranty to reduce lender’s risk. 

Private Activity Revenue Bonds

  • Taxable Bond: Provides access to long-term capital markets for primarily fixed asset
  • Tax-Exempt Bond: Provides access to long-term capital markets for fixed asset financing at tax-exempt rates. Eligibility is limited by Federal law to 50` (c) (3) non-profits organizations, manufacturing facilities and certain solid waste projects. Additional limitations apply to the specific transaction type.

Credit Insurance

  • Conventional Program: Insures up to 80% , not to exceed $2.5 million of a transaction made by a financial institution. Export transactions may be insured up to 90%
  • Bond Program: Insures bonds up to 100%, not to exceed $7.5 million of taxable or tax-exempt bonds.

Program Eligibility

Commercial and Industrial (with the exception of retail), manufacturers, and not-for-profit entities.

Rockville preliminarily approves annexation for 365-unit development

Posted on by Amanda Bosland

The proposed development includes 247 townhouses and 118 multi-family units on 20 acres

Article Originally Published by Bethesda Magazine on September 14, 2021

Rockville on Monday preliminarily approved an annexation and preliminary development agreement that includes up to 365 units at the site of a car dealership. 

Officials previously discussed the proposed annexation and development at a meeting in July, before Rockville’s summer recess.

The updated agreement includes 247 townhouses and 118 multifamily units. The project would be on roughly 20.58 acres at the King Buick car dealership site along Md. 355, south of Fedor Avenue, city staff documents show.

At least 58 of the units must be moderately priced dwelling units (MPDUs), according to city code. Those units must be affordable according to formulas involving area median income. For instance, a family of four would qualify for living in one if their maximum income is $77,400.

Mayor Bridget Donnell Newton and City Council members supported the proposal before Monday’s vote.

Council Member Beryl Feinberg and staff members of EYA, the developer of the site, spent several minutes discussing what age range of children a playground at the site should serve.

Feinberg said she has lived in townhouse communities, and wanted to make sure the playground served younger and older kids. 

“I’ve seen how, when you have a toddler, before your very eyes blink more than once or twice, they become children in third, fourth, fifth, sixth grade, and their needs are different than young to very young children,” Feinberg said. 

EYA did not object to including an age range for the playground in the agreement, but wanted to make sure amendments did not prevent the developer from choosing the playground equipment and age ranges. 

After several minutes, Feinberg, council members and EYA officials agreed to add language in the development agreement, specifying the playground is meant for kids ages 2 to 12. 

The development will also feature a pool, a surrounding patio and a community center, city documents show. 

Council Member Mark Pierzchala praised the project before the vote Monday.

“It’s a really great project, I think it enhances the King Farm community, enhances possibility for King Farm Farmstead and enhances pedestrian and bike transit along [Md.] 355,” Pierzchala said. “I think the city of Rockville ought to be thinking about extending those enhancements further south.”

According to city documents, EYA now must submit more documentation laying out more specifics about the development, before final approval by the mayor and City Council.

Project Restore Business Grant

Posted on by Amanda Bosland

The Maryland Department of Housing and Community Development (DHCD) is administering a $25 million grant for businesses that open or expand into previously vacant spaces

Maryland DHCD Project Restore Grant – Friday, September 10, 2021

The Maryland Department of Housing and Community Development is allocating $25 million in grants to businesses that plan on opening or expanding into previously vacant retail and commercial properties. Project Restore will provide financial support to businesses with two grant opportunities:

  • Rental Assistance Grant
    Up to $30,000 for rent for one year (or $2,500 per month) for qualified small businesses with 50 or fewer employees (full-time equivalents).

  • Business Operations Grant
    Up to $250,000 for one or two years for businesses that generate sales and use tax. Funds can be used to sustain or expand the business through expenses such as staff expenses, capital improvements, marketing, inventory, etc.

Grant Eligibility

Businesses that are interested in either the Rental Assistance Grant or Business Operations Grant must meet the following criteria:

  • Business must be registered and in good standing with the Maryland Department of Assessments and Taxation (SDAT)
  • Business must open or expand in a retail or commercial space that has been vacant at least 6 months prior to the date of their grant application
  • Financially viable business whose operations will continue forward
    •  

Grant Applications

Applications for the Rental Assistance Grant and/or the Business Operations Grant will be accepted through October 8, 2021. Please note there is a single Project Restore application for both grants.

NEXT powered by Shulman Rogers Wins Legalweek Award

Posted on by Lori Crowe

Named Startup/ Emerging Company
Law Firm of the Year

Congratulations to Shulman Rogers on this award that recognizes its new technology platform designed to assist business start-ups and emerging companies through legal and funding issues. Nancy Regelin, a shareholder partner at Shulman Rogers, also serves as one of the Vice-Chairs on REDI’s board and we are grateful for her continued involvement and guidance.

POTOMAC, Md., July 15, 2021 /PRNewswire/ — NEXT powered by Shulman Rogers is proud to have been selected as Startup Firm/Emerging Company Law Firm of the Year by Law.com and Legaltech News in their 2021 Legalweek Leaders in Tech Awards, celebrating the achievements of lawyers and companies leading technology, innovation and the profession as a whole.

Launched in 2018, NEXT presents a new model for the delivery of legal services to startup and emerging growth companies, through predictable and sustainable legal fees (including more than 75 fixed-price packages and service bundles); access to senior business attorneys; transparency, efficiency and collaboration via a variety of technology tools; and a client-centric approach.

Commenting on the award, Founder and Co-chair of NEXT, Anthony Millin, said, “We are honored to be recognized by Law.com and Legaltech News – and thrilled that our model for delivering legal services has been embraced by entrepreneurs and business owners. We relish the opportunity to contribute to our clients’ successes and look forward to continuing to drive innovation in the way legal services for startups are packaged, priced, delivered and serviced.”

Offering much more than just legal services, NEXT works with founders as a long-term success partner, from the development of a new idea and raising a seed round all the way through centi-million-dollar growth rounds and exit. The number of NEXT clients has more than doubled each year since the platform’s launch.

“It has been inspiring to watch Anthony’s passion for the startup community grow into such a successful and impactful enterprise,” said Shulman Rogers’ Managing Shareholder, Sam Spiritos. “The Firm is pleased to provide the launch pad for the NEXT platform and support the growth of its many entrepreneurial clients.”

Anthony Millin, Founder and Co-chair of NEXT powered by Shulman Rogers

About NEXT powered by Shulman Rogers

Through an innovative new model for the delivery of legal services for the full life-cycle of startup and emerging growth companies, NEXT has productized a broad range of legal services and clients receive legal guidance and services through a high-touch, hands-on legal team comprised of senior Shulman Rogers’ attorneys. NEXT uses a robust technology platform that leverages a range of cloud-based technologies and new business models to create and deliver a unique and powerful client-centric experience. NEXT offer predictable, sustainable fixed fee Packages and Bundles of services for a wide variety of legal needs. Contact us at info@next.law for a video consultation with NEXT attorneys. Visit our website at www.next.law. 

Eight Rockville Companies Rank as Top Workplaces in 2021

Posted on by Lori Crowe

Despite the most challenging year in recent history, 200 companies located in the Washington, D.C. metro area ranked on The Washington Post’s Top Workplaces 2021. Ranked solely by employees, more than 65,000 survey responses were collected to determine the rankings. Survey feedback also provided insights into specific workplace attributes. 

We’re thrilled that eight companies headquartered in Rockville earn a spot on this year’s list. We congratulate them for their dedication to investing in positive workplaces, even during challenging times.

View the full Top Workplaces 2021 list here.

Learn about the methodology behind this year’s rankings. 

Congratulations to the eight Rockville companies who made this year’s list (highlighted below by company size). 

Large Companies

#31. The Emmes Company

Emmes is a full-service clinical research organization that provides clinical trial support to clinicians, biomedical scientists and health administrators. More than 2,000 clinical studies have been conducted across therapeutic areas, including infectious diseases, vaccines, ophthalmology, oncology, neurology, and maternal and child health. 

Medium Companies

#39. Aronson LLC

Aronson is an accounting and consulting firm that serves a variety of industries, including government contracting, technology, professional services, nonprofits, construction and real estate. Established in 1962, the firm has about 270 employees. 

#46. Regenxbio

Regenxbio is a clinical-stage biotechnology firm that develops gene therapy products to treat retinal, neuromuscular and neurodegenerative diseases. Founded in 2009, the company, based in Rockville, Md., has about 300 local employees. 

#59. American Speech-Language-Hearing Association

The American Speech-Language-Hearing Association is a trade association that is responsible for credentialing audiologists; audiology and speech-language pathology support personnel; speech-language pathologists; and speech, language and hearing scientists.

Small Companies

#6. MassMutual Greater Washington

MassMutual Greater Washington, a life insurance and investment firm, develops specialized financial and retirement plans for individuals and organizations. Officials describe their approach to financial planning as client-centric and geared toward providing appropriate recommendations from a range of quality companies. 

#18.  FitzGerald Financial Group

FitzGerald Financial Group, a mortgage lender, has been operating since 2007. The lender, a division of TowneBank Mortgage, has 17 locations in Maryland, Virginia, Delaware and Florida. 

#31.  Apex Home Loans

Apex Home Loans is a mortgage lender licensed in the District, Maryland, Virginia and eight other states in the Southeast and the Mid-Atlantic region. Apex’s benefits include four weeks of paid parental leave and a 10 percent 401(k) match. 

#80.  Sparks Group

Sparks Group is a staffing and recruiting firm that provides temporary staffing and full-time recruiting services in human resources, accounting and finance, information technology, marketing, administrative support and other areas. Established in 1970, the firm has 60 local employees.

COVID-19 Resources for Rockville Businesses

Posted on by Amanda Bosland

To assist Rockville’s businesses, REDI has created this resource page that includes information and links to financial assistance during COVID-19. We will continue to update this page as more information becomes available, so check this page often and follow us on social media–Facebook, Twitter, and LinkedIn.  

If you have questions or need help, schedule a call with one of the business counselors at Maryland Women’s Business Center.
Call (301) 315-8091 to get connected.

Updated October 25, 2021

Are you a supplier or buyer in need of critical personal protective equipment (PPE) to combat coronavirus? Click here to connect with suppliers and buyers through the new Maryland Manufacturing Network.

Protect yourself from phishing scams!

Loan applicants seeking federal aid in response to the COVID-19 pandemic through the SBA and its Office of Disaster should be aware that email phishing scams seeking applicants’ personally identifiable information (PII) for fraudulent purposes have surfaced. Applicants to SBA’s Economic Injury Disaster Loan Program should be particularly vigilant…any email communication from the SBA will come from email accounts ending in sba.gov, not a third party.

Economic Relief Programs

  • SBA Targeted EIDL Advance – The U.S. Small Business Administration reopened the Economic Injury Disaster Loan (EIDL) portal to all eligible applicants experiencing economic impacts due to COVID-19. The Supplemental Targeted Advance provides a supplemental payment of $5,000 that is forgiveable is the following eligibility criteria is met:
    • Is located in a low-income community. Use this mapping tool to see if your business is located in a designated area.
    • Can prove more than a 50% economic loss during an eight-week period beginning March 2, 2020 or later, compared to the same period of the previous year.
    • Has 10 or fewer employees

Learn more and apply here: Targeted EIDL Advance and Supplemental Targeted Advance (sba.gov)

  • Montgomery County Local Small Business Reserve Program (LSBRP) – Beginning April 1, Montgomery County’s Office of Procurement will require that informal solicitations be reserved under the Local Small Business Reserve Program (LSBRP) to help local small businesses to recover from the COVID-19 recession. In FY 2020, more than $2 million was awarded in informal solicitations, which can make a huge difference to local small businesses.
  • $250 Million ‘Maryland Strong: Economic Recovery Initiative’ – Additional funding to assist restaurants, small businesses, local entertainment venues, arts organizations, and Main Streets across the state has been approved. This initiative doubles the state’s total commitment to COVID-19 emergency economic relief for Marylanders to $500 million. The additional $250 million will be allocated as follows:
    • $50M: Expansion of Maryland Small Business COVID-19 Relief Grant Fund
    • $50M: Direct Relief for Restaurants
    • $20M: Direct Relief for Main Street
    • $20M: Expansion of COVID-19 Layoff Aversion Fund
    • $5M: Expansion of Small and Minority Business Low-Interest Loans
    • $3M: Expansion of Arts Organization Funding
    • $2M: Hometown Tourism Program
    • $100M: Emergency Rapid Response Fund for Small Businesses

Additional Links

Currently Closed Economic Programs

  • CARES Act – Congress has passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which approves more than $2 trillion in economic relief. Click here for complete details.
  • $10 M Available through Small Business COVID-19 RELIEF Grant Program – The Maryland Department of Commerce opened its application portal on March 30 for new Maryland Small Business COVID-19 RELIEF Grant Program in 2021 with $10 million in state RELIEF Act funding. HURRY! The application portal is only  open from March 30-April 6. 
  • BGE Energizing Small Business Grants Program – Eligible businesses located in BGE’s service area can apply for grants of up to $20,000, beginning January 20. BGE, an Exelon Company, launched its Energizing Small Business Grants Program as part of its $15 million pledge to assist small businesses with COVID-19 relief and recovery. Eligible businesses located in BGE’s service area will have three opportunities to apply for grants of up to $20,000:
    • Round 1: January 20 – March 3, 2021 
    • Round 2: May 5 – June 16, 2021
    • Round 3: September 1 – October 13, 2021
    • Applicants must be a for-profit business and an existing BGE electric and/or gas customer with positive BGE credit history. Preference will be given to minority-owned and woman owned-owned businesses. Review full criteria and apply at http://bge.helloalice.com/. 
  • Paycheck Protection Program Reopened on January 11 – SBA reopened the Paycheck Protection Program (PPP) for First Draw PPP Loans the week of January 11, 2021. SBA began accepting applications for Second Draw PPP Loans on January 13, 2021, and will accept them until March 31, 2021. For more details on recent updates, click here. Or, apply at https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program/second-draw-ppp-loans.
  • Montgomery County Hotel Relief Grant Program Accepting Applications until February 7 – This program will provide financial assistance to hotels and other lodging entities located in Montgomery County. To learn more, including eligibility requirements and FAQs, visit https://www.montgomerycountymd.gov/Biz-Resources/hrg/.
  • Reopen Montgomery Program – This program will provide up to $5,000 to hard-hit local businesses and nonprofits facing the costs of PPE needed to safely reopen. Applicants were notified by email on December 4. 
    For information, visit:  https://www.montgomerycountymd.gov/biz-resources/reopen/. This is a rolling lottery and businesses can only apply ONCE!  Lottery #5 was held on October 29, 2020, and Lottery #6 is TBD.
  • Montgomery County Restaurant Relief Fund – Local food establishments may be eligible for up to $10,000 through a pandemic relief grant to help to cover rent, payroll and other expenses. This includes restaurants, food trucks, caterers, and wineries/breweries that directly provide food service. The $8 million state-funded Restaurant Relief Grant Program closed its application portal on December 4, 2020. Visit https://thinkmoco.com/covid-19-resources/restaurant-relief-grant for information on your application. 
  • Neighborhood Business Works (NBW) Program: Opportunity Zone Micro Grant Funding – Funding has closed and will not be accepting any more applications at this time. If additional funding becomes available, the application may be reopened. For updates, visit: https://dhcd.maryland.gov/Business/Pages/OZ-Microgrant.aspx. 
  • 2020 Renters’ Tax Credit Application Form – The deadline for the 2020 Homeowners’ and Renters’ Property Tax Credits was October 31, 2020. For more information, click here.
  • Maryland Small Business Development Financing Authority (MSBDFA) Program COVID-19 Emergency Relief Loans – The MSBDFA program received its second round of relief funding on October 22, 2020; however, due to the backlog of applications already received from the previous allocation, no new applications will be accepted. Previously received applications will be considered for funding and do not need to reapply. If your previous MSBDFA COVID-19 loan request was declined, you are not eligible for reconsideration. For  updates visit, https://mmgcapitalgroup.com/covid-19-emergency-relief-loan-fund-message/.
  • The Legacy Fund for Small Business Development – The Legacy Fund was established with a $1 million grant from the Greater Washington Community Foundation to provide critically needed access to capital for small businesses in Prince George’s County. The fund closed on August 28, 2020. To learn more about the program, please visit www.fscfirst.com/legacy-fund.
  • The Arts & Humanities Council of Montgomery County Relief Fund – The Arts & Humanities COVID-19 Relief Fund to help Montgomery County, MD, based non-profit arts and/or humanities organizations and individual artists and scholars experiencing financial hardship due to COVID-19 closed on September 14. Complete information can be found here: https://www.creativemoco.com/grant/covid-19-relief-funds.
  • SBA Paycheck Protection Program (PPP) – Current law dictates that the Paycheck Protection Program (PPP) close at the end of August 8, 2020. As such, SBA is no longer accepting PPP applications from participating lenders. For updates, visit: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program
  • SBA Economic Injury Disaster Loan Advance – All available funds for the EIDL Advance program have been allocated. By law, SBA is not able to issue EIDL Advances once program funding has been obligated and is no longer available. EIDL loan applications will still be processed even though the Advance is no longer available. Information on how the EIDL Advance worked:  The amount of the EIDL Advance was determined by the number of employees indicated on the EIDL application at $1,000 per employee, up to a maximum of $10,000. The EIDL Advance does not have to be repaid. Recipients did not have to be approved for an EIDL loan in order to receive the EIDL Advance, but the amount of the loan advance is be deducted from total loan eligibility.
  • Maryland State Arts Council (MSAC) Emergency Grant for Arts Organizations – The second round of emergency grant applications ended on August 3, 2020. Click here to review other opportunities and resources for arts organizations and artists at this time. 
  • Montgomery County Telework Grant – Applications are no longer being accepted for this grant. Click here to visit the Telework Grant information page.
  • Prince George’s County COVID-19 Business Recovery Initiative (formerly Relief Fund) – a $20 million program that offers grants to provide working capital for small County-based businesses whose operations have been interrupted due to COVID -19. No longer accepting new applications for the COVID-19 Business Recovery Initiative. If you have submitted an application, we are still processing your request.
  • Maryland Agricultural Resource-Based Industry Development Corporation (MARBIDCO) – Its Pandemic Adjustment Loan Fund Program to help Maryland’s food and fiber producers, harvesters, and primary processors adjust to business disruptions closed on July 15.
  • Montgomery County Microenterprise Stabilization Program – the application window for this grant program closed on June 16. We will provide status updates once they are received from the County. Detailed information can be found at: https://montgomerycountymd.gov/Biz-Resources/msp/. Note: Businesses that received assistance from Montgomery County through the Public Health Emergency Grant program (PHEG) are NOT eligible to receive funding from the Microenterprise Stabilization Program.
  • Maryland Heritage Areas Authority (MHAA) – Grants for heritage tourism nonprofits are no longer being accepted at this time. If additional funding is approved, applications will re-open on this page: https://bit.ly/MHAACOVID. 
  • Maryland Department of Commerce Small Business Relief Grants and Loans – As of 5:00p on April 6, 2020, the Maryland Department of Commerce is no longer accepting applications for COVID-19 Small Business Relief Grant and Loan Programs. All applications that have been submitted are currently being reviewed in the order received.
  • Maryland COVID-19 Emergency Relief Manufacturing Fund – Recently Governor Hogan announced 20 companies that received first round grants totaling more than $1.6 million. The grants were awarded to manufacturing companies to help with expenses related to pivoting to or expanding production of Personal Protective Equipment (PPE). Read more here.
  • National Restaurant Employee Relief Fund – Due to an overwhelming response of 60,000 applicants to date, the Fund is not currently accepting new applications. The National Restaurant Association Education Fund (NRAEF) continues to raise money to assist more individuals in the future. Check back at rerf.us for updates and follow our Twitter, Facebook, and Instagram feeds.
  • Montgomery County Public Health Emergency Grant (PHEG) – Due to the overwhelming response to the PHEG program, applications will no longer be accepted after 5:00p on Saturday, April 25, 2020. PHEG has launched a public dashboard that shares characteristics of PHEG applicants and how grant dollars are awarded.
  • Hello Alice Foundation Grants for Black-owned Small Businesses – The Hello Alice Foundation is offering grants of up to $10,000 to Black-owned small businesses in the United States. This grant can be used to assist in the recovery or stabilization of a small business that has been negatively impacted by COVID-19. Details can be found at https://blog.helloalice.com/covid-19-emergency-grant-process/.