SBY launching grant program to aid business’ financial recovery

SALISBURY, Md. – The city of Salisbury is taking steps towards helping local businesses recover financially from the COVID-19 pandemic. “We have a pot of money from a revolving loan account that went towards business upgrades and things like that. We’re taking about a fourth of that and putting it towards a mini business grant program.,” said Acting Mayor Julia Glanz.

Close to $70,000 is being taken out of the city’s revolving loan fund and is being transferred to a business grant program. “It got approved by council Monday night. If we get any more awards or donations from private businesses, those have to go through the city budget acceptance process, which is a couple of weeks,” said Acting Mayor Glanz.

The money is being given to businesses through a lottery system – and businesses can get up to $2,300 each. Acting Mayor Glanz tells 47ABC that the city wanted to use the money in a way that would help support local businesses. “We could have just left it the way it was and done the application process for businesses that wanted to do major improvements, but we know now is a time that everybody’s got to pull together. We’ve got to think creatively and use our funds the best that we can,” said Acting Mayor Glanz.

Acting Mayor Glanz says the application process is expected to begin next week – and will remain open for two weeks. She says that if there’s any money left over – the city will do a second round of grants. The acting mayor tells 47ABC that the applications will be available in multiple languages so that all business owners can get in on the funds.

Categories: Business, Coronavirus, Local News, Maryland, Money