U.S. Small Business Administration opens recovery centers after Key Bridge collapse

The U.S. Small Business Administration has established two business recovery centers following the March 26 collapse of the Francis Scott Key Bridge in Baltimore.

A disaster declaration was issued by the Small Business Administration on Saturday, March 30 for small businesses, small agricultural cooperatives, small aquaculture businesses and private nonprofit organization in counties affected by the Key Bridge collapse.

“The SBA joins the entire federal family in grieving for the lives lost in the tragic collapse of the Francis Scott Key Bridge,” SBA Administrator Isabel Casillas Guzman said in a news release. “As Baltimore and the wider community mourn and start to rebuild, the SBA and the Biden-Harris Administration stand ready to help local small businesses get through the economic disruption caused by the bridge collapse.”

Eligible applicants may apply for a federal disaster loan of up to $2 million to overcome temporary revenue loss related to the bridge collapse. Approved loans may be used to pay normal operating expenses including fixed debts, payroll, accounts payable and other bills affected by this disruption, according to the administration.

#KeyBridgeNews https://t.co/oFKfwldaYq

— MDTA (@TheMDTA) April 3, 2024

Dec. 30 is the deadline to submit the economic disaster loan application related to the Key Bridge incident.

The business recovery centers are located at:

• Dundalk Renaissance

11 Center Place, Suite 201

Dundalk, MD 21222

• CareFirst Engagement Center

1501 S. Clinton St.

Baltimore, MD 21224

According to the Small Business Administration’s website, the center will be open from 8 a.m. to 6 p.m. Monday through Friday and from 10 a.m. to 2 p.m. on Saturday. Both locations will be closed Sunday.

“Our business recovery centers are one of the most powerful resources at SBA’s disposal to support business owners in the midst of a disaster,” said Francisco Sánchez Jr., associate administrator of the SBA Office of Disaster Recovery and Resilience. “Business owners can meet in person with our specialists to apply for SBA disaster loans and get information on the full breadth of our programs designed to help them navigate their recovery.”

In addition, online applications are being accepted at sba.gov/disaster.

For more information, contact the Small Business Administration’s customer service center at 800-659-2955 or DisasterCustomerService@sba.gov. LL

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