Retail owner struggling from the pandemic eligible to get assistance from Montgomery County
Retail store owners in Montgomery County, Maryland, who are still having trouble making ends meet as a direct result of the pandemic, are eligible to get further assistance with their rent payments.
The new Small Business Rental Assistance grant program, which has a budget of $2 million, will pay owners of businesses up to $10,000 or three months of rent, whichever is lower, depending on their lease.
Marc Elrich, the executive of Montgomery County, said that “We are fortunate enough to be able to access this federal money in order to offer help to these enterprises that employ 12 percent of our county’s workers.”
The submission period for the grant will begin on September 1 and run through September 30.
The following criteria can make a company eligible for the program:
- 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.
The application will be available on the homepage for the Montgomery County Small Business Rental Assistance Program — Phase 2 once it has been made available to the public.
The funds, which were made available by the American Rescue Plan Act of 2021, are being allocated via a collaborative effort between the Latino Economic Development Center and Montgomery County.
