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Montgomery County will Begin Accepting Applications for Its Business Microenterprise Stabilization Program TODAY, Wednesday, June 10

For Immediate Release: Wednesday, June 10, 2020

Montgomery County will begin accepting applications to its Microenterprise Stabilization Program (MSP) beginning at 10 a.m. TODAY, Wednesday, June 10. Applications will be accepted through 5 p.m. on Tuesday, June 16. The MSP initiative is designed to help for-profit businesses with five or fewer employees in response to the COVID-19 health crisis.

In addition to for-profit businesses, the program is open to businesses with no employees including sole proprietors and independent contractors.

Information on the eligibility requirements and required documentation is available on the program web page at www.montgomerycountymd.gov/biz-resources/msp.

The program is funded from $1 million through the Community Development Block Grant and CARES Act programs, and, as such, federal guidelines on income eligibility must be followed. An applicant must be a U.S. Citizen or a qualified alien as defined by 8 U.S.C. 1641.

A fact sheet describing eligibility and document requirements will be available in Spanish, Amharic, French, Korean, Mandarin and Vietnamese. It will be viewable on the program web site soon at www.montgomerycountymd.gov/biz-resources/msp.

The MSP program is intended to provide financial assistance to establishments that have experienced a loss in revenue as a result of the current health crisis. The County is encouraging businesses to review other assistance programs and apply to those for which they are eligible. That could include Unemployment Insurance that has been expanded to applicants who were previously not eligible, including sole-proprietors, independent contractors and “gig” economy workers.

Eligible businesses must be physically located in Montgomery County or the owner must reside in the County and at least 51 percent of business revenue must be generated in Montgomery County. Each application submitted will be assigned a random number and considered in that order. Businesses approved for MSP assistance will receive a maximum of $10,000.

The County will host webinars to answer questions and further explain the MSP program every morning at 9 a.m. through Saturday, June 13. Webinar links and instructions are available at www.montgomerycountymd.gov/biz-resources/msp.

More information on the MSP program is available at www.montgomerycountymd.gov/biz-resources/msp. Questions about the program should be directed to BizinfoCovid19@montgomerycountymd.gov.

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For the latest updates, visit the County’s COVID-19 website and follow Montgomery County on Facebook @MontgomeryCountyInfo and Twitter @MontgomeryCoMD
Release ID: 20-307
Media Contact: Montgomery 311 240-777-0311