Anne Arundel County Offers Grants To Small Businesses Impacted By Flooding
ANNAPOLIS, Md. (WJZ) -- Anne Arundel County is offering grants of up to $50,000 to small businesses that have sustained damage or been forced to close due to coastal flooding, County Executive Steuart Pittman said Saturday.
Water levels rose as high as 4 feet during high tide on Friday, WJZ's Ava-joye Burnett reported. An entire row of businesses near City Dock had to shut down with water right at their doorsteps.
The VOLT Disaster Recovery Relief Program will be managed by the Anne Arundel Economic Development Corporation (AAEDC).
"As a small business owner, I know how hard it can be to recover from property damage and business interruptions caused by events like this storm," Pittman said. "I want to thank the AAEDC for moving quickly to make this program available, and I want to encourage all impacted business owners to make use of these funds if your business is eligible."
The county's VOLT Fund provides loans to small businesses and minority-, veteran- and women-owned businesses.
Applications for the grants will be accepted on a rolling basis starting on Nov. 1. Funds can be used repair buildings, replace damaged equipment or inventory, make up for lost income, or cover the cost of reopening.
"Our team's goal is to get these businesses the critical funds that they need to both retain their employees and get back to business as quickly as possible," said AAEDC CEO Ben Birge.
Applicants will be required to submit a VOLT application, listing of all damages, budget for the grant funds, W-9 form and tax returns. They also must be available for a site visit.
The VOLT Disaster Recovery Relief Program will utilize $1 million from a state program that directs a portion of video lottery terminal revenues from casinos to local businesses, Pittman's office said.
Gov. Larry Hogan declared a state of emergency in areas impacted by the floodwaters, including Anne Arundel County.
The Anne Arundel County Office of Emergency Management on Saturday opened a web portal to gather data on the damage to homes and businesses caused by the severe weather.