Small Business Administration announces approval of disaster loans for those impacted by Empire Towers

BALTIMORE, Md. — Governor Wes Moore announced Tuesday that the Small Business Administration has approved his request for a Small Business Administrative Declaration to provide Economic Injury Disaster Loans to eligible small businesses and others impacted by the Empire Tower Structural Emergency.

The declaration provides access to low-interest loans to help eligible organization address financial impacts resulting from the structural emergency.

“Anne Arundel County's local businesses were profoundly impacted by the structural emergency at Empire Towers,” said Gov. Wes Moore. “This SBA assistance means critical resources are available for eligible businesses as they navigate the economic impacts of this incident, strengthening our local economy and supporting our Maryland communities. In the face of emergency, our administration is committed to ensuring Maryland communities have access to the tools and support they need during times of disruption.”

The support can be used to cover operating expenses, such as payroll or rent, and businesses can request loans with lower interest rates and potentially deferred payments.

The Moore-Miller administration says it remains fully committed to supporting local business owners and ensuring they have the resources they need.

This is a developing story, so check back with WMAR2News.com for updates. Email the WMAR-2 Newsroom if you have info, photos or videos to share.

This story was initially reported by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.