Maryland Emergency Loans Forgiven

Date: December 15, 2020

Governor Hogan announces $75 million in loans will be converted to grants

Governor Hogan directed the Maryland Department of Commerce to forgive the $75 million in emergency loans the state provided to small business during the first round of economic relief in March. The announcement comes as NFIB’s Research Center announces that one-in-five small business owners have applied for a state or local grant.

The emergency loans were offered through the Maryland Small Business COVID-19 Emergency Relief Fund created earlier this year. Details of any forgiveness process for borrowers will be shared as they become available.

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