From the Office of the
Prince George's Chamber of Commerce
"The Capital Accelerator Program"
Since the onset of COVID-19, small businesses – especially minority and women owned businesses have been hardest hit by this Pandemic. Nationwide, it is estimated that 44% of minority and women owned businesses will shut their doors; while, according to the County’s Economic Development Corporation, 1/3 of these businesses may be forced to close.
While the pandemic is wreaking havoc, these potential closures highlight the historic struggle that small businesses have had to remain competitive.
Many of these businesses have long been locked out of public and private procurement, equity participation in land use development & investment/ capital access. The inability to access capital, makes it difficult to remain afloat even when obtaining small contracts.
In keeping with its purpose to be the Voice of Wealth Creation, the Prince George’s Chamber of Commerce in collaboration with the Small Business Development Council (SBDC), and generous support from the United Way of the National Capital Area, Truist Bank, Bank of America, & the Prince George’s Community Federal Credit Union- the Prince George's Chamber of Commerce is pleased to announce the Capital Accelerator Program.
This program will provide coaching, counseling & access to capital; and during COVID-19, assistance in applying for the Payroll Protection Program Loan, other SBA stimulus programs as well as state and local grant programs that will level the playing field for small businesses in Prince George's County.
• Chamber Members will be referred to banks, credit unions & other financial institutions for possible capital lending and investment
• The program will track other financial, grant, & procurement opportunities for Chamber Members
As new stimulus packages are being negotiated, and with Payroll Protection dollars still available, stay tuned for Chamber Webinars that will help businesses access these dollars.