- June 24, 2021
- Posted by: Stratford Team
- Category: Business
In March 2020, not long after Maryland businesses were forced to close because of the pandemic, Gov. Larry Hogan announced grant and loan programs to help small businesses.
New data, presented during a meeting with Comptroller Peter Franchot Wednesday, reveals disparities in how that money was distributed.
The Maryland Department of Commerce awarded 14,286 grants of up to $10,000 each, totalling nearly $141 million, and 1,654 loans of up to $50,000 each, totalling about $75.3 million. To qualify, businesses could have no more than 50 employees.
The largest share of grants — 18.6%, or $26.2 million — went to businesses in Montgomery County, according to data from the state Department of Commerce presented Wednesday.
By comparison, Prince George’s County, the state’s second most-populous county, is home to roughly the same number of qualified businesses as Montgomery County, but received less than half as much…