HAGERSTOWN, MD (May 27, 2020) – With approval from the Board of County Commissioners, the Washington County Department of Business Development announces the launching of a new grant program to support local small businesses in Washington County. The Rise Up Business Stabilization Grant program will award $8.9 million. The grant program is designed to assist small businesses that experienced financial loss caused by the coronavirus. The County’s Department of Business Development is partnering with the City of Hagerstown Community and Economic Development to administer the program.
General terms and conditions of the Rise Up Business Stabilization Grant include:
- Grants up to $10,000 for Washington County and City of Hagerstown businesses with qualifying financial stress or disruptions due to impacts related to the COVID-19 pandemic, and businesses with 50 or fewer employees. (An employee is an individual that is hired by the business and whose earned wages are reported through W-2 or 1099 reporting. Employees may be full time or part time. Sole proprietors who own the business may count themselves as an employee).
- Business must be located within Washington County, including the City of Hagerstown.
- Must be established and operating prior to September 1, 2019.
- Must be incorporated as a business entity and “In Good Standing” with the Maryland State Department of Assessments and Taxation. You may search: www.egov.maryland.gov/BusinessExpress/EntitySearch/Search
- If your business is NOT registered with the State of Maryland, but you pay your taxes every year as a sole proprietor, you will need to meet all other eligibility requirements and will need to submit a Schedule C of personal tax returns for sole proprietors.
- Annual Revenues of the business must not exceed $5 million (Applicant, its parent subsidiaries and affiliates, if any, with combined revenues not to exceed $5 million) as evidenced by Financial Statement or other financial documentation.
- Businesses will be asked to make a good faith effort to retain/rehire employees and have willing intentions to continue operating the business for at least the next 12 months. (The program is not intended for businesses considering permanent closure or bankruptcy proceedings.)
Applications will be accepted from 8:00 a.m. Monday, June 1, 2020 until 11:59 p.m. on Monday, June 15, 2020. Applications for the Rise Up Business Stabilization Grant must be made online at www.washcorises.net. The website also provides guidelines, application instructions, and answers to frequently asked questions.
Please note any financial information shared as part of this application will remain confidential, but the names of businesses receiving grants and the amount they receive is public information.
For questions regarding eligibility criteria or required documentation, please email [email protected].
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