Small Businesses in Maryland are Getting a Big Boost Thanks to Grant Funding

Maryland's local businesses are set to receive nearly $7.9 million in grant funding. This substantial support aims to revitalize the local economy and help small businesses thrive. One beneficiary of this funding is the Baltimore Music Company.

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Business Boost Microgrant Program

• Assists businesses seeking to expand or establish their first commercial location.
• Awards $941,992 to 21 businesses, prioritizing minority and women-owned businesses, innovation, and regional strengths.

Main Street Improvement Grant Program

• Provides operating assistance to local governments or economic development organizations.
• Awards $341,000 to 19 recipients to achieve community revitalization and economic development goals.

Project Restore 2.0

• Aims to activate vacant buildings and increase local economic activity.
• Awards $6,611,064 as block grants to 26 economic development organizations and local government entities.
• Funds will be sub-granted to businesses and organizations to start up or expand into vacant buildings.

Importance of Grants for Startups

Grants play a crucial role in the success of startup businesses. They provide the necessary financial backing to bring innovative ideas to life. According to Erika Rue, part-owner and operations manager of the Baltimore Music Company, access to grant money can transform a business's potential.

With the grant, the Baltimore Music Company can now enhance its offerings and better serve the community. The completion of their spray station will enable them to produce and restore instruments more efficiently, fulfilling their business dreams.

By supporting local businesses through grants, Maryland is fostering economic growth and helping startups make a significant impact on the community.