Retail business owners in Montgomery County, Maryland, who are still financially struggling because of the pandemic, can receive extra help when paying rent.
A new $2 million Small Business Rental Assistance grant program will provide business owners up to $10,000 or three months of rent based on their lease.
“We are fortunate enough to be able to access this Federal funding to provide support to these businesses that employ 12 percent of our County’s workforce,” said Montgomery County Executive Marc Elrich.
Applications for the grant will open from Sept. 1 through Sept. 30.
Businesses could be eligible for the program if they:
- Demonstrate they lost revenue because of the pandemic.
- Received $500,000 or less in annual revenue prior to the pandemic.
- Are classified as a retail or service-related business, but not a restaurant, medical practice, professional service, religious organization or licensed child care program.
- Have locations only in Montgomery County.
- Have a commercial lease in Montgomery County.
Once it is open, the application can be found on the Montgomery County Small Business Rental Assistance Program — Phase 2 webpage.
The Latino Economic Development Center is partnering with Montgomery County to distribute the funds, which come from the American Rescue Plan Act of 2021.