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9.29.2020 Gaithersburg Offers Emergency Microgrants to Assist Small Businesses

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The Gaithersburg Emergency Micgrogrant (GEM) Program is now accepting applications. The program provides financial assistance of up to $5,000 each to income eligible, for-profit businesses with five or fewer employees operating in the City of Gaithersburg that have experienced a reduction in revenue as a result of the COVID-19 public health emergency. Those that have received assistance from Federal, State or Montgomery County COVID-19 financial relief programs are not eligible to receive funding from the GEM Program.

“We estimate that there are hundreds of small businesses of this size operating in Gaithersburg that could qualify for these grants,” said Assistant City Manager and Economic Development Director Tom Lonergan. “Recognizing that it may be difficult for them to compete for Federal, State and County relief funding, the City of Gaithersburg has pledged $100,000 from its Community Development Block Grant CARES Act funding to provide some assistance.”

Among the eligibility requirements are:

·        The business must occupy commercial space physically located in the City of Gaithersburg. Home-based businesses are not eligible.

·        The owner(s) of the business must qualify as low income, be a U.S. Citizen or Qualified Alien, and must be a resident of Montgomery County, Maryland.

·        The business must have been established as of January 1, 2020.

·        Loss of revenue due to COVID-19 must be demonstrated.

·        The business must be in good standing with the State of Maryland and have a DUNS number to apply.

Businesses are asked to complete an online application. Each application will be assigned a random number to determine the order in which it will be reviewed. If chosen, the applicant will then have three business days to provide additional documentation, such as pay stubs, bank statements, tax returns, and profit and loss statements. Note that all information collected will remain confidential, used only to meet Federal and State record keeping requirements, and will be withheld as applicable from disclosure.

This review process will be conducted in batches until the full amount of the GEM program funding has been awarded. For complete details, visit the GEM webpage at http://gburg.md/GEM or email ode@gaithersburgmd.gov. For information on other relief programs available for local businesses, please visit the State of Maryland and Montgomery County websites. Learn more about economic development in Gaithersburg at www.growgaithersburg.com.