Another $5 million will be allocated to the Maryland Small Business Development Financing Authority to provide financing to businesses owned by economically and socially disadvantaged entrepreneurs.
Another $50 million will create the Maryland Nonprofit Recovery Initiative to help organizations address revenue reductions and expenses.
Up to $90 million will be used to reimburse state-supported universities for expenses related to COVID-19.
Hogan has announced a total of about $475 million in federal aid related to the coronavirus over the last week.
“As Maryland continues to grapple with an unprecedented fiscal crisis, we are directing more than $475 million in federal resources to critical sectors of our economy,” Hogan said in a news release. “These resources will help make a difference in areas where they are needed most.”
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