SILVER SPRING, Md - The Latino Economic Development Center (LEDC) today announced it would begin accepting applications for the Montgomery County Small Business Rental Assistance Program on Monday, May 17 at 11 a.m. The online application will close on Monday, May 24 at 5 p.m.
To ensure a smooth application experience, LEDC will host two information sessions on Friday, May 14 to review program guidelines and answer any questions pertaining to the application portal. To attend, click the links below:
- English Informational Webinar | 05/14 | 2 p.m. (https://us02web.zoom.us/j/89159301360)
- Spanish Informational Webinar | 05/14 | 3 p.m. (https://us02web.zoom.us/j/83255834092)
Small businesses may be awarded up to $10,000 or three months of rent assistance, whichever is less. Funds may be used to pay for past-due rent or current rent obligations. Per county guidelines, a business may be eligible if it meets the following criteria:
- Is located only in the county OR its county-based location(s) account for more than 50% of the business’s total number of employees or more than 50% of gross sales
- Received $500,000 or less in annual revenue in 2019
- Is classified as a retail or service-related business (excluding restaurant or food service businesses)
- Has a commercial lease in the county
- Can demonstrate a revenue loss due to COVID-19
"COVID-19 has been particularly hard on brick-and-mortar businesses. We are eager to begin accepting applications for this much-needed grant program that will help alleviate the financial pressures these businesses are experiencing," LEDC Interim Executive Director and CEO Marjorie Nemes said. "We encourage rent-burdened small businesses in the county to take advantage of this financial assistance."
LEDC's Direct Community Investments (DCI) department will administer the program in partnership with the Montgomery County Business Advancement Team. More details about the grant are available at ledcmetro.org/small_biz_rental_assistance.
About The Latino Economic Development Center (LEDC)
Working families deserve to live in affordable homes and own successful small businesses, but too many are unable to turn those dreams into a reality. The Latino Economic Development Center (LEDC) equips Latinos and other underserved communities in DC, MD, VA, and Puerto Rico with the skills and financial tools to create a better future for their families and communities. Participants in our programs learn how to buy and stay in their homes, join with their neighbors to keep their rental housing affordable, and start or expand small businesses.