Maryland to begin reviewing third round of applications for small business grants

BALTIMORE — Small enterprise house owners in Maryland could have a 3rd probability at acquiring a grant that might assist them develop their firms beginning Tuesday.

Gov. Larry Hogan introduced on Monday that the third spherical of purposes for Alternative Zone Microgrants can be open to the general public this week.

The grants vary in dimension from $50,000 to $100,000.

The grants are distributed by the Neighborhood BusinessWorks program, which is run by the Maryland Division of Housing and Neighborhood Improvement, in keeping with state officers.

The primary two rounds of Alternative Zone microgrant funding sank $1 million into 20 companies throughout Maryland, state officers stated.

Small enterprise house owners who wish to apply for microgrants should meet 5 totally different standards.

• Have secured an identical contribution equal to or higher than the grant request quantity;

• Be positioned at an eligible location in an Alternative Zone in Maryland;

• Make use of between two and 50 full-time equal workers;

• Generate annual income between $300,000 and $5 million, and;

• Be in good standing with the Maryland State Division of Assessments and Taxation.

Purposes for the third spherical of funding can be reviewed on a first-come, first-serve foundation. They are going to solely be open so long as funds can be found, state officers stated.

To go to the Maryland Alternative Zone Info Change or discover extra particulars on Alternative Zones in Maryland, go to dhcd.maryland.gov/OpportunityZones.