In the aftermath of the tragic collapse of the Francis Scott Key Bridge in Maryland, the Small Business Administration (SBA) is extending a helping hand to small businesses in the Mid-Atlantic region. The SBA is offering low-interest, long-term Economic Injury Disaster Loans of up to $2 million to aid businesses recover from the economic disruption caused by the bridge collapse.
Small Business Administration (SBA) Administrator Isabel Casillas Guzman expressed her condolences for the lives lost in the tragedy and emphasized her agency’s commitment to supporting local small businesses as they begin to rebuild. The bridge, a vital transportation route in the region, saw 1.3 million trucks crossing it annually, with 3,600 trucks passing through each day. However, following the collapse, trucks carrying hazardous materials are now required to take a 30-mile detour around Baltimore due to restrictions on using the city’s tunnels, leading to delays and increased fuel costs.
The SBA declaration covers the entire state of Maryland and contiguous counties, including the District of Columbia. Small businesses, small agricultural cooperatives, small aquaculture businesses
