Baltimore Firm Gets Assistance Under Hogan Administration’s Maryland Business Recovery Program

DHCD’s John Maneval presents check to business owner Juan C. Nunez

Zero-Interest Loan Will Help Tops in Cellular Repair Damages, Recover Lost Revenue Suffered During Recent Civil Unrest

Baltimore – Juan C. Nunez, owner of Tops in Cellular, was one of the first business owners to apply for financial assistance after the civil unrest that rocked the city last month.

On Monday, he became the first to receive assistance under the Hogan administration’s Maryland Business Recovery program. Nunez, 40, said the $15,000 zero-interest Micro-Enterprise loan will be used to repair damages suffered and lost revenues due to the citywide curfew.
“This check will serve as a cushion to help manage employee payroll, repair damages and restock inventory,” he said during a presentation ceremony with DHCD’s John Maneval.

The goal of the Hogan administration is to get the nearly 400 businesses affected by the riots back in business as quickly as possible. DHCD’s Maryland Business Recovery Loan program was launched in the immediate aftermath of the unrest to cut through the red tape and put money in the hands of beleaguered businesses as quickly as possible.

Businesses can receive zero interest loans up to $35,000 through DHCD’s Micro-Enterprise loan program or up to $500,000 through the Neighborhood BusinessWorks program. To date, DHCD has received 25 loan requests for a total of $805,000; 18 requests have been approved for a total of $555,000. Deadline for applications is August 1. Learn more about DHCD’s resources for small businesses.

Nunez says he opened his store in 2010 and plans on serving Baltimore, particularly the Latino community in Highlandtown. “I plan to finally install a security gate for the store so I can sleep at night and have a piece of mind,” he added.