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SBA Offers Loans for Businesses Affected by Francis Scott Key Bridge Collapse

Small Business Administration offers loans for businesses affected by Francis Scott Key Bridge collapse

On Saturday, Small Business Administration (SBA) Administrator Isabel Casillas Guzmán announced that small businesses in the Mid-Atlantic that were affected by the Francis Scott Key Bridge collapse can apply for Economic Injury Disaster Loans (EIDL). long term and with low interest. “The SBA joins the entire federal family in mourning the lives lost in the tragic collapse of the Francis Scott Key Bridge,” said Administrator Guzmán. “As Baltimore and the broader community grieve and begin to rebuild, the SBA and the Biden-Harris Administration stand ready to help local small businesses overcome the economic disruption caused by the bridge collapse.” Video above: Aerial video of Baltimore bridge collapse from NTSB Administrator Guzmán made the loans available in response to a letter from Maryland Gov. Wes Moore on Friday. Moore requested a disaster declaration from the SBA. The declaration covers the entire state of Maryland, as well as Adams, Bedford, Chester, Fayette, Franklin, Fulton, Lancaster, Somerset and York counties in Pennsylvania. The statement applies to small businesses, small agricultural cooperatives, small aquaculture businesses, and private nonprofit organizations. business. Applicants in those areas can apply for EIDL of up to $2 million to help with lost income from the bridge collapse. These loans can help pay for normal business expenses, such as debt, payroll, and other bills that cannot be paid due to the collapse. “The collapse of the bridge will impact small businesses that depend on the transportation and movement of goods from the Port of Baltimore and along the Francis Scott Key Bridge for their economic livelihood,” said Francisco Sánchez, Jr., associate administrator of the Office of the the SBA. of Disaster Recovery and Resilience. “As part of the Biden-Harris Administration’s commitment to helping communities in times of crisis and ensuring small businesses receive vital assistance, the SBA is supporting the state of Maryland and surrounding communities by providing financial assistance to businesses affected by this incident.” You can apply online and receive additional assistance information. Applicants may also call the SBA Customer Service Center at 800-659-2955.

On Saturday, Small Business Administration (SBA) Administrator Isabel Casillas Guzmán announced that small businesses in the Mid-Atlantic that were affected by the Francis Scott Key Bridge collapse can apply for Economic Injury Disaster Loans (EIDL). long term and with low interest.

“The SBA joins the entire federal family in mourning the lives lost in the tragic collapse of the Francis Scott Key Bridge,” said Administrator Guzmán. “As Baltimore and the broader community grieve and begin to rebuild, the SBA and the Biden-Harris Administration stand ready to help local small businesses overcome the economic disruption caused by the bridge collapse.”

Video above: NTSB Unmanned Aerial Video of Baltimore Bridge Collapse

Trustee Guzmán made the loans available in response to a Friday letter from Maryland Governor Wes Moore. Moore requested a disaster declaration from the SBA. The declaration covers the entire state of Maryland, as well as Adams, Bedford, Chester, Fayette, Franklin, Fulton, Lancaster, Somerset and York counties in Pennsylvania.

The declaration applies to small businesses, small agricultural cooperatives, small aquaculture businesses, and private nonprofit companies. Applicants in those areas can apply for an EIDL of up to $2 million to help with lost income from the bridge collapse.

These loans can help pay for normal business expenses, such as debt, payroll, and other bills that cannot be paid due to the collapse.

“The bridge collapse will impact small businesses that depend on the transportation and movement of goods from the Port of Baltimore and along the Francis Scott Key Bridge for their economic livelihood,” said Francisco Sánchez, Jr., associate administrator of the Office of SBA Disaster Recovery. and Resilience. “As part of the Biden-Harris Administration’s commitment to helping communities in times of crisis and ensuring small businesses receive vital assistance, the SBA is supporting the state of Maryland and surrounding communities by providing financial assistance to businesses affected by this incident.”

Applicants can apply online and receive additional support information. Applicants may also call the SBA Customer Service Center at 800-659-2955.

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