Small Business Administration (SBA) Coronavirus (COVID-19): Small Business Guidance & Loan resources

The CARES Act established several New Temporary Programs to address the COVID-19 outbreak, Coronavirus Relief Options.




Baltimore City Mayor’s Office takes the initiative to connect COVID-19 funding resources available to small businesses.  BDC and M&T Bank sponsor a teleconference to with Federal and State officials to provide stakeholders an overview of federal and state small business COVID-19 economic disruption resources and Guidelines under the CARES (Coronavirus Aid, Relief, and Economic Security) Act.

Attending:  Mayor Jack Young; Colin Torbin, BDC; Senator Ben Cardin, Member, Senate Small Business and Entrepreneurship Committee; Stephen Umberger, District Director, US Small Business Administration Baltimore District Office; Kelly Schultz, Maryland Department of Commerce.

Attending Stakeholder were not disclosed and participated via Q&A Chat.

Highlights of Teleconference:

The $2 trillion federally funded COVID-19 Economic Injury Disaster Loans (EIDL) was recently allocated under the CARES Act to address the impact on small businesses resulting from this public health crisis in the US.  Senator Ben Cardin and Stephen Umberger of SBA were intricately involved in structuring the COVID-19 Small Business (EIDL) Economic stimulus package to be administered through the SBA. 

Maryland’s Department of Commerce also administers a small business economic stimulus program that was in place prior to the CARES Act, which re-opens the door to COVID-19 small businesses funding resources across the United States.  The purpose of the teleconference was to ensure that Baltimore City small business stakeholders have first-hand information on how to access resources.

Full document: Federal and State COVID Resources.pdf

SBA Disaster Assistance Available in Maryland

For Small Businesses Economically Impacted by the Coronavirus (COVID-19)

SBA Disaster Loans Check disaster declarations Apply for a disaster loan Check your status

Date: 03/19/2020


MARYLAND Declaration 16376 (Disaster MD-00041)
Incident: CORONAVIRUS (COVID-19) occurring: January 31, 2020 & continuing

All counties within the State of Maryland; and contiguous District of Columbia; the contiguous Delaware counties of: Kent, New Castle, and Sussex; the contiguous Pennsylvania counties of: Adams, Bedford, Chester, Fayette, Franklin, Fulton, Lancaster, Somerset, and York; the contiguous Virginia counties of: Accomack, Alexandria (City), Arlington, Fairfax, and Loudoun; and the contiguous West Virginia counties of: Berkeley, Grant, Hampshire, Jefferson, Mineral, Morgan and Preston

Application Filing Deadline: December 21, 2020

Disaster Loan Assistance Available:
Economic Injury Disaster Loans (EIDLs) – Working capital loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, non-profit organizations of all sizes meet their ordinary and necessary financial obligations that cannot be met as a direct result of the disaster. These loans are intended to assist through the disaster recovery period.
Credit Requirements:
• Credit History – Applicants must have a credit history acceptable to SBA.
• Repayment – Applicants must show the ability to repay the loan.
• Collateral – Collateral is required for all EIDL loans over $25,000. SBA takes real estate as collateral when it is available. SBA will not decline a loan for lack of collateral, but SBA will require the borrower to pledge collateral that is available.
Interest Rates:
The interest rate is determined by formulas set by law and is fixed for the life of the loan. The maximum interest rate for this program is 3.750 percent.
Loan Terms:
The law authorizes loan terms up to a maximum of 30 years. SBA will determine an appropriate installment payment based on the financial condition of each borrower, which in turn will determine the loan term.
Loan Amount Limit:
The law limits EIDLs to $2,000,000 for alleviating economic injury caused by the disaster. The actual amount of each loan is limited to the economic injury determined by SBA, less business interruption insurance and other recoveries up to the administrative lending limit. SBA also considers potential contributions that are available from the business and/or its owner(s) or affiliates. If a business is a major source of employment, SBA has the authority to waive the $2,000,000 statutory limit.
Loan Eligibility Restrictions:
Noncompliance – Applicants who have not complied with the terms of previous SBA loans may not be eligible. This includes borrowers who did not maintain required flood insurance and/or hazard insurance on previous SBA loans.
Note: Loan applicants should check with agencies / organizations administering any grant or other assistance program under this declaration to determine how an approval of SBA disaster loan might affect their eligibility.
Refinancing: Economic injury disaster loans cannot be used to refinance long term debts.
Insurance Requirements:
To protect each borrower and the Agency, SBA may require you to obtain and maintain appropriate insurance. By law, borrowers whose damaged or collateral property is located in a special flood hazard area must purchase and maintain flood insurance. SBA requires that flood insurance coverage be the lesser of 1) the total of the disaster loan, 2) the insurable value of the property, or 3) the maximum insurance available.

Applicants may apply online; receive additional disaster assistance information and download applications at

Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email for more information on SBA disaster assistance. Individuals who are deaf or hard-of-hearing may call (800) 877-8339.

Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

A PDF Version of this EIDL Fact Sheet is available online.

Follow us on Twitter @SBA_Baltimore for real-time updates & program notices. 

SBA Disaster Loan Application

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Small Biz Bulletin - Special Edition

April 8, 2020

Special Secretary Jimmy Rhee

Message from Special Secretary Rhee

COVID-19 Surge Expected

Within hours of our last bulletin to you, Governor Larry Hogan took further actions to protect our small business community. Last Friday, he expanded a previous executive order to prohibit commercial and industrial property evictions. The order also temporarily prohibits mortgage foreclosures, and the repossession of cars and trucks. This action was taken in collaboration with nearly 70 of Maryland's largest banks, credit unions, mortgage lenders, and other financial entities that understand the importance of providing flexibility to borrowers amidst the current economic conditions. You may be eligible for 90 days of payment forbearance or deferral of some loan payments. Contact your creditors directly to discuss your options. 

Just yesterday, Governor Hogan toured the field hospital site at the Baltimore Convention Center. He announced the designation of the Baltimore-Washington Corridor as an emerging hot spot, and that further demographic breakdowns on race and ethnicity will be provided for COVID-19 case data. This information will help our leadership ensure that the most affected areas are getting the public health resources they need as we prepare for the surge expected over the next two weeks.

Your actions make a big difference. Please continue following the governor's executive orders and guidance. Tough times do not last, but tough people do. Stay healthy and stay informed as we weather this storm together.

COVID-19 Pandemic: Orders and Guidance

Jimmy Rhee
Special Secretary

For Your Business

Annual Report and Personal Property Tax Return Deadline
Extended to July 15

The Maryland Department of Assessments and Taxation (SDAT) recently announced the 2020 deadline to submit Annual Reports and Personal Property Tax Returns will be automatically extended to July 15 as part of the Hogan administration’s response to COVID-19. Expiration dates for trade names and name reservations, as well as entity forfeiture dates, will also be extended to 30 days after the state of emergency is rescinded. SDAT's filings and applications may be downloaded, printed, and mailed, but customers are strongly encouraged to complete transactions online when possible. Any paper-based submissions will take significantly longer to process throughout the remainder of the COVID-19 crisis. At this time, phone lines have limited staffing or are only accepting voicemails. Visit the website for more information, and sign up to receive reminders and news updates.

Maryland Department of Assessments and Taxation


SBR Recertification

The small business community has access to over $400 million in prime contracting opportunities on state-funded contracts through the Small Business Reserve (SBR) Program. SBR certification takes place in the eMaryland Marketplace Advantage (eMMA) platform. Once certified, firms must recertify annually. Firms that do not complete the online recertification process in eMMA by the renewal date are automatically removed from the program and are not eligible to receive a designated SBR contract. They must complete the application process again to rejoin the program. If you are certified as an SBR vendor, please visit your eMMA vendor profile to determine your recertification date. If you are not in the program or missed your recertification date, please complete the SBR certification process today. Utilize this quick reference guide.

SBR Certification/Recertification Quick Reference Guide


MBE Program Update

The Office of Minority Business Enterprise (OMBE), while operating under the governor's social distancing directives, will continue to process requests for certification. Applicants will be contacted by telephone to perform the required interview with the owner(s). The mandatory on-site visit at your place of business will be performed when business operations return to normal. Firms that are currently certified should continue to submit Annual Renewal documentation as requested. Use of the on-line portal is recommended as the most efficient way to submit the required documentation. New applications for certification and expansion of services requests are being accepted, but they will not be processed for the next 30 days. An OMBE officer will be in contact with applicants when we return to normal business operations. Check the website for more information. 

Office of Minority Business Enterprise


Expansion of Unemployment Insurance Benefits

The federal CARES Act has expanded unemployment insurance benefits nationwide, giving access to sole proprietors, independent contractors, and self-employed workers. The Maryland Department of Labor is collaborating with the U.S. Department of Labor to create new IT systems, modify the current platforms, and train staff in order to implement these new programs. Maryland will provide all three expanded unemployment programs: Pandemic Unemployment Assistance (PUA), Federal Pandemic Unemployment Compensation, and Pandemic Emergency Unemployment Compensation. Upon availability, benefits will be paid back to the earliest date of eligibility. Please use the link below to monitor progress as these programs come online, and sign up to receive an email update when filing opens for PUA benefits. 

Maryland Division of Unemployment Insurance


SBA Daily Calls & Webinars

The U.S. Small Business Administration (SBA) is conducting daily webinars and conference calls to help small business owners understand and apply for the coronavirus relief options. The SBA offers these programs: Paycheck Protection Program, EIDL Loan Advance, SBA Express Bridge Loan, SBA Debt Relief.

  • 3:00 pm – Daily Conference Call
    202-765-1264; ID # 827-299-626
  • 5:30 pm – Daily Conference Call
    202-765-1264; ID # 310-688-488
  • 10:30 am and 8:00 pm – Zoom Webinar (download the ZOOM app for free)
    Meeting # 6794772946
    Have all your necessary documents ready

Federal Coronavirus Relief Options

Maryland flag with state house dome in background

“I know that there’s a lot of anxiety out there and a lot
of stress. Folks are worried about what lies ahead and how we’re going to get through this. We’re all worried about our family members and our loved ones, about our communities and neighborhoods. But I want everybody in Maryland to know that if we continue to lead, we continue to work together, and if we rely on  and help each other, we will get through this crisis.”

                      - Governor Larry Hogan

Learn how you can donate and volunteer.


Maryland is OPEN for Business. As a coordinating office for Governor Larry Hogan, the Governor's Office of Small, Minority & Women Business Affairs connects small businesses, including those owned by minorities, women, and veterans to greater economic opportunities.  Learn more by visiting our website at and connect with us on Facebook and Twitter @goMDsmallbiz.

Maryland Coronavirus (COVID-19) Information for Business

For resources and more information regarding assistance for businesses in the State  Maryland click here

Informational Website from the Baltimore City Health Department:

From the Baltimore County Office of Budget & Finance:

SBA Disaster Assistance Information: HANDOUT_SBA Disaster Assistance_Resources for Businesses.pdf

Greater Baltimore Black Chamber of Commerce is a 501(c) 4 non-profit organization. 1325 Bedford Avenue, Suite 5941; Pikesville, MD 21208

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