The Montgomery County Board of Commissioners announced that they are making available $5,000,000 in economic development funds to provide grants to eligible small businesses in Montgomery County for Round 2 of the MontcoStrong Small Business Grant Program. Round 2 grant awards will once again be administered by the Redevelopment Authority of Montgomery County in partnership with the Montgomery County Board of Commissioners and the Montgomery County Commerce Department.
Updates to the program for Round 2 include new eligibility parameters, strategically identified program priorities, and other changes that are being incorporated to make the program more equitable and also ensure more businesses have an opportunity to compete for funding. Changes include a tiered grant award system based on gross revenue, a maximum of 30 full and part-time employees, a greater emphasis on supporting minority, women, and veteran owned businesses, and changes in allowable use of grant funds and business eligibility. Any business interested in applying should thoroughly review the guidelines to determine their eligibility and prepare to submit an application.
The updated guidelines, updated program FAQ, and additional information are available on the program webpage, https://www.montcopa.org/MontcoStrongSBGP. Links to the program webpage can also be found on the County’s COVID-19 data hub and our Commerce Department’s homepage.
For Round 2 applications will be accepted online beginning at 10am on Wednesday, May 13th, 2020 and the application window will close at approximately 6pm on Wednesday, May 13th, 2020.
Applicants who applied in Round 1 and did not receive a grant will need to apply in Round 2 due to the changes in program eligibility and the new tiered grant award system. Those who did receive a grant in Round 1 are not eligible to apply in Round 2.