CECIL CATALYST COVID-19 LOAN PROGRAM:
Cecil Catalyst Overview For COVID-19 Loans
Cecil Catalyst Loan Application for COVID-19 Relief
Cecil County’s small businesses are NOW eligible to file for COVID-19 Disaster Relief Loans!Please go to the Small Business Administration website here and get the paperwork going. A summary of the SBA's Disaster Assistance Response can be found here.
The Maryland Department of Commerce is offering these business assistance programs in response to the COVID-19 pandemic:
Maryland Small Business COVID-19 Emergency Relief Loan Fund - This $75 million loan fund offers no interest or principal payments due for the first 12 months, then converts to a 36-month term loan of principal and interest payments, with an interest rate at 2% per annum. Learn more.
Maryland Small Business COVID-19 Emergency Relief Grant Fund - This $50 million grant program offers grant amounts up to $10,000, not to exceed 3 months of demonstrated cash operating expenses for the first quarter of 2020. Learn more.
Maryland COVID-19 Emergency Relief Manufacturing Fund -This $5 million incentive program helps Maryland manufacturers to produce personal protective equipment (PPE) that is urgently needed by hospitals and health-care workers across the country. More information coming by Friday, March 27, 2020.
Maryland Department of Labor has launched the new COVID-19 Layoff Aversion Fund, which is designed to support businesses undergoing economic stresses due to the pandemic by preventing or minimizing the duration of unemployment resulting from layoffs. The award (up to $50,000 per applicant), will be a quickly deployable benefit and customizeable to the specific needs of your business to minimize the need for layoffs. Learn More
First Glance at the COVID-19 Stimulus Bill
Department of Homeland Security issued Guidance on Essential Critical Infrastructure Workers during the COVID-19 response via this memorandum.
APG Chesapeake (parent company of the Cecil Whig) has established a matching grant program to help local businesses advertise – click here for more information.
Please follow our Facebook page for the most up-to-date information.
In addition, the Cecil County Office of Economic Development is surveying small businesses in an attempt to find out the magnitude of the situation and how we may be able to help at the local level. If you are a Cecil County business owner, please complete the survey via the link provided below.