Gov. Larry Hogan today said state-provide financial assistance to small businesses during the pandemic helped them avoid layoffs and closures.
The COVID-19 Layoff Aversion Fund has saved 21,555 jobs and supported 1,267 small businesses through two rounds of funding, with a total of over $31 million, Hogan said.
When the fund was first introduced by the governor in March 2020, it awarded over $10 million in grants to support 445 small businesses and saved 8,819 jobs.
The second round of funding in October 2020 awarded over $21 million in grants for 822 small businesses and saved 12,736 jobs, according to a statement from the Maryland Department of Labor.
Small businesses that received grants, averaging $25,725, used the money to purchase remote access equipment and software to promote teleworking, Hogan said. He said the funds were also used for training and educating employees, purchasing cleaning supplies and services for onsite workforce, and utilizing a state unemployment insurance program to supplement employee income.
–Madison Haller