The Small Business Administration offers assistance for small biz hurt by Maryland bridge collapse
The Small Business Administration is offering assistance to those affected by the bridge collapse in Maryland
NEW YORK (AP) — The Small Business Administration is offering assistance to those affected by the bridge collapse in Maryland.
Small businesses in the Mid-Atlantic region will be eligible for low-interest, long-term Economic Injury Disaster Loans of up to $2 million.
“The SBA joins the entire federal family in grieving for the lives lost in the tragic collapse of the Francis Scott Key Bridge,” said SBA Administrator Isabel Casillas Guzman. “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.”
The bridge was a key transportation route in the region. Every year, 1.3 million trucks cross the bridge — 3,600 a day, according to the American Trucking Associations. Trucks that carry hazardous materials will now have to make 30 miles of detours around Baltimore because they are prohibited from using the city’s tunnels, adding to delays and increasing fuel costs.
