CMC Newsletter- Happy Fourth of July

Chamber Connections

July 2, 2021

Gov. Larry Hogan Ends COVID-19

State of Emergency

Gov. Larry Hogan announced the end of the COVID-19 state of emergency in the state of Maryland. Maryland recently surpassed 6.5 million vaccinations, and the positivity rate is a record-low 0.82 percent.

“Thanks in large part to the hard work, the sacrifices, and the vigilance of the people of Maryland, we have finally reached the light at the end of that long tunnel,” said Governor Hogan. “Each and every one of you – your actions – have made this day possible. I am so proud of our state, and I’m grateful to have had this honor to serve as your governor. Thank you all for being Maryland Strong.”

The COVID-19 state of emergency will end in two phases:

Emergency Mandates and Restrictions End July 1
All emergency mandates and restrictions will be terminated as of July 1. There will no longer be any statewide mask order in effect for any settings, including schools, camps, and childcare facilities.
The 45-Day Administrative Grace Period Runs Through Aug. 15
Thursday, July 1, will mark the beginning of a 45-day grace period, where certain regulations will continue to be relaxed to complete the administrative transition out of the pandemic. This includes such provisions as renewing driver’s licenses, winding down emergency health operations and the moratorium on evictions related to COVID-19.

Learn More

Catalyst Fund Loans For Small Business

"Over the last 15 months, COVID-19 has impacted economies around the world. Some businesses suffered drastically, especially many small businesses.

Our economic outlook is finally improving after months of uncertainty, allowing many businesses to get on the road to recovery – but those same businesses will feel the effects of the pandemic for quite some time. d dose (merchandise, gift cards, services, etc.)...

That’s why in this year’s budget we included $1 million for a new small business tool, the Collateral Enhancement Program which will be used in conjunction with the Howard County Economic Development Authority (HCEDA) Catalyst Loan Programs, aimed at providing collateral assistance for qualified small business borrowers from Howard County.

The program is designed to help small businesses that don’t have sufficient collateral to get loan approval. Special preference is placed on business owners who are women, U.S. veterans, minorities or part of other socially disadvantaged groups.

The HCEDA Catalyst Loan Fund is a locally managed source of capital used to finance small growth oriented businesses whose projects will create permanent jobs and leverage private sector investment."

-Dr. Calvin Ball is Howard County Executive.

Full Article

Catalyst Loan Fund

Tower Federal Credit Union Named #1 Best-in-State Credit Union by Forbes Magazine

Forbes Magazine has released its list of America’s Best-in-State Credit Unions for 2021, honoring the top credit unions nationwide. Tower Federal Credit Union, Maryland’s largest federal credit union, received top honors and ranked number one on the 2021 list of Best-in-State Credit Unions for the state of Maryland.

“We were excited to learn that Tower is at the top of this year’s Forbes Best-in-State list,” said Richard Stafford, Tower’s President and CEO. Stafford says he credits the first-place recognition to Tower’s outstanding team of employees and their commitment to providing superior member service, especially during a global pandemic, along with the credit union’s full offering of low or no fee products and services, top-notch online and digital channels, and focus on financial education and member give-back.

Of the nation’s 5,068 credit unions, only 3.6% made the Forbes list of Best-In-State Credit Unions for 2021. To create the list, Forbes and partner Statista surveyed more than 25,000 U.S. consumers about their banking relationships. The independent survey asked participants to rate credit unions at which they have or previously have had checking accounts.

Full Press Release

Gov. Hogan Announces $25 Million Initiative to Revitalize Downtowns and Main Streets

Project Restore Announcement - June 28, 2021

Fostering IDEA's

Weekly Inclusion, Diversity, Equity & Awareness Conversations

Supporting LGBT Businesses During Pride Month and Beyond

"Now more than ever, the collective voice of the LGBT community is growing, along with our economic influence. We have fought hard to secure our rights in the name of equality, and our ability to continue to bring about change for our community lies with our economic power. As is true with our social visibility, economic visibility is essential in building a diverse and inclusive society — and the power of the LGBT dollar is becoming more and more visible every day."