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.
