ANNAPOLIS, Maryland (WJZ) – Anne Arundel County is offering grants of up to $ 50,000 to small businesses that have suffered damage or have been forced to close due to coastal flooding, County Executive Steuart Pittman said on Saturday.
Water levels reached as high as four feet at high tide on Friday, WJZ’s Ava-joye Burnett reported. An entire row of businesses near City Dock had to close with water right on their doorstep.
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VOLT’s disaster recovery relief program will be managed by the Anne Arundel Economic Development Corporation (AAEDC).
“As a small business owner, I know how difficult it can be to recover from property damage and business disruptions caused by events like this storm,” Pittman said. “I would like to thank the AAEDC for moving quickly to make this program available, and I would like to encourage all affected business owners to use these funds if your business is eligible.
The county’s VOLT fund provides loans to small and minority-owned businesses, veterans, and women.
Grant applications will be accepted on a rolling basis from November 1st. Funds can be used to repair buildings, replace damaged equipment or inventory, make up for lost income, or cover the cost of reopening.
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“Our team’s goal is to provide these businesses with the essential funds they need to retain their employees and resume operations as quickly as possible,” said Ben Birge, CEO of AAEDC.
Applicants will need to submit a VOLT application, a list of all damages, a budget for grant funds, a W-9 form, and income tax returns. They must also be available for a site visit.
The VOLT disaster recovery relief program will use $ 1 million of a state program which directs some of the revenue from video lottery terminals from casinos to local businesses, Pittman’s office said.
Governor Larry Hogan has declared a state of emergency in areas affected by flood waters, including Anne Arundel County.
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The Anne Arundel County Emergency Management Office on Saturday opened a web portal to collect data on damage to homes and businesses from inclement weather.