To our small business community,
The Metropolitan Washington Airports Authority (Airports Authority), in this critical time, remains steadfast in its mission to promote regional economic development. Now more than ever, we understand the importance of coming together as a community and sharing critical, relevant, and timely information. To that end, we have gathered COVID-19 relief program information and resources that may be helpful for our small business community.
Goldman Sachs 10,000 Small Businesses and Community Reinvestment Fund (CRF), USA
Goldman Sachs 10,000 Small Businesses and CRF are working together to provide Paycheck Protection Loan Programs to small businesses including those who do business with the Airports Authority. Goldman Sachs 10,000 Small Businesses is an investment to help entrepreneurs create jobs and economic opportunity by providing greater access to education, capital and business support services. CRF is a mission-driven, national nonprofit lender committed to helping organizations access responsible, sustainable capital. More information about this program including a webinar and an application portal is available at https://crfusappploans.com/partners/mwaa/?id=44.
The Airports Authority is not affiliated with this lending program, is not providing legal, financial or tax advice and makes no representations regarding the information provided by third parties.
Small Business COVID-19 Reimbursement Grant Program
The Small Business COVID-19 Reimbursement Grant Program is a $3 million fund established to help Baltimore County’s small businesses harmed by the COVID-19 pandemic.
Forestry Equipment and Working Capital Loan Fund
Provides financing for Maryland’s forest products-related businesses with respect to working capital and equipment purchases. Maximum loan $150,000. Loans for equipment term is 3-6 years and operating capital term is 1-2 years. https://www.marbidco.org/_pages/programs_loans/loan_programs_fewc.htm
The CARES Act
The CARES Act, the largest economic relief package in our nation’s history, was signed into law on March 27,2020, and includes major provisions U.S. Travel fought for to deliver economic support to travel businesses, travel workers and their families
U.S. Small Business Administration (SBA) Programs
Economic Injury Disaster Loan Emergency Advance
This loan advance will provide up to $10,000 of economic relief to businesses that are currently experiencing temporary difficulties (from their website).
SBA Express Bridge Loans
Enables small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly.
IFW COVID-19 Relief Fund (Grants are distributed on a rolling basis)
The IFW COVID-19 Relief Fund provides microgrants to women-owned businesses that are being impacted by this crisis. You can donate to the Relief Fund now or start a campaign on IFW to be considered to receive a grant.
National Minority Supplier Development Council (NMSDC)
Currently accepting applications for the second round of PPP loans, the NMSDC Business Consortium Fund (BCF) has partnered with First Bank of the Lake (FBOL) to allow their Minority Business Enterprises to apply.
Rebuild your brand post COVID-19 – Capital One and 1863 Ventures are providing Capital and Coaching to 500 businesses owned by founders from diverse backgrounds in Washington, DC.
Small Business Association’s Restaurant Revitalization Fund (RRF)
Airport Concessions Disadvantaged Business Enterprises (ACDBEs) that operate food & beverage concessions are eligible to apply for the Small Business Association’s Restaurant Revitalization Fund (RRF) and are considered part of the priority groups. ACDBE Joint Venture partners may need to contact SBA to confirm their eligibility.
RRF Program Guide: https://www.sba.gov/document/support-restaurant-revitalization-funding-program-guide
RRF Funding Application Sample: https://www.sba.gov/document/sba-form-3172-restaurant-revitalization-funding-application-sample
RF Knowledge Base: https://ussbaforgiveness.zendesk.com/hc/en-us/categories/360005965311-Restaurant-Revitalization-Fund-Knowledge-Base
SBA Hotline for Questions about RRF: 1-844-279-8898