Reviving Small Businesses after Baltimore Bridge Collapse: SBA Offers Low-Interest Loans with No Immediate Burdens

Business owners urged to seek assistance from SBA immediately

The Small Business Administration is offering low-interest, 30-year duration loans to small businesses affected by the recent bridge collapse in Baltimore. Governor Wes Moore and Senator Ben Cardin have visited one of the two locations set up for business owners to apply, emphasizing the importance of these loans.

Senator Cardin highlighted the benefits of these loans, pointing out that there are no immediate burdens or obligations in the first year, giving small business owners and independent contractors a chance to catch their breath and keep their businesses running despite the loss of revenue. It is recommended by the SBA that business owners apply as soon as possible, even if they are unsure of the full extent of the impact on their business.

The deadline for applications is December 30th, so time is of the essence for those seeking assistance in recovering from the bridge collapse. The SBA encourages small business owners to take advantage of this opportunity and apply for disaster relief to help them get back on track and rebuild their businesses.

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