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Small Business Administration aims to help all impacted by Key Bridge collapse

Posted at 5:34 PM, Apr 19, 2024
and last updated 2024-04-22 10:04:55-04

BALTIMORE — Just a few days after the bridge collapsed, the Small Business Administration set up its first Business Recovery Center to help those impacted.

On Friday, they gave an update on how they're helping.

So far, they've opened three centers, including a permanent one, and have given out 59 loans to businesses equaling $3.4 million.

Still, the SBA says they can be doing more.

"Especially in communities that are undeserved, said Dilawar Syed, Deputy Administrator of the SBA. "We just spent some time with folks where there are needs for Spanish language translation, including folks who are from different parts of the continent in South America who may have different needs. So there is a lot of intentionality here to reach all communities."

SBA is also launching a reconsideration campaign for businesses who were not successful in getting a loan.

The deadline to apply is December 30.

For more information on the recovery centers, click here.

Editor's Note: Deputy Administrator Syed initially said $34 million in EIDL loans were issued, but later corrected that number to $3.4 million.