The SBA said they received 500 loan applications after Baltimore’s Francis Scott Key Bridge collapsed last week.
The funds could be distributed in two weeks to support small businesses that are out of operation as the Port of Baltimore remains closed. Baltimore is“The immediate impact has really been felt by those supply chain, logistics and transportation companies that really focus their businesses on the port and the activity that was happening at the port,” Isabel Casillas Guzman, SBA administrator, toldThe SBA has distributed similar loans in times of unexpected disastrous situations.
The bill now heads to the Maryland House, where it could be voted on as early as this week. The legislative session in Maryland ends Monday. saidThe bill would also allow Moore to help small businesses avoid layoffs due to the closure and bring businesses that moved because of the closure back when it reopens.
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