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SBA encourages business owners to apply for assistance now

Posted at 5:51 PM, Apr 02, 2024
and last updated 2024-04-04 11:49:53-04

BALTIMORE — Small businesses impacted by the bridge collapse can now apply for disaster relief.

The Small Business Administration currently has two locations for business owners to apply.

Governor Wes Moore and Senator Ben Cardin visited one of them today in Southeast Baltimore.

Cardin emphasized the importance of the loans.

"They're low-interest loans. They're 30 year duration. So, there's no immediate burden; there's no obligations during the first year, so it gives a small business owner, an independent contractor, a chance to catch his or her breath to keep business going even though the revenues are not coming in," said Senator Ben Cardin.

SBA encourages business owners to apply as soon as possible, even if they are not sure what the extent of the impact will be.

The deadline is December 30th.