The Montgomery County Board of Commissioners has approved $10 million in economic development funds for Round 3 of the MontcoStrong Small Business Grant Program.

The third round will be administered by the Redevelopment Authority of Montgomery County together with Montgomery County Board of Commissioners and Montgomery County Commerce Department.

Eligible small businesses can apply for a grant to cover their accounts payable between June 1, 2020, and October 31, 2020, along with rent and mortgage payments and debt service amounts on loans and credit cards for the same period.

The eligibility criteria include having a physical location in Montgomery County, reporting gross revenues of not greater than $15 million on the last federal tax return, and employing no more than 50 employees as of July 1, 2020.

Businesses that received a grant in the first or the second round may not apply again. Additionally, small businesses that applied for a grant but were not awarded funding in the first and second rounds must apply again to be considered in Round 3.

The applications for Round 3 can be submitted from 10 a.m. on July 16, 2020, to approximately Noon on July 17, 2020.

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