On Sunday, March 31, 2024, the Francis Scott Key Bridge in Baltimore collapsed, causing significant damage to the surrounding area. In response to this tragedy, the Small Business Administration (SBA) is offering aid to those affected by the collapse. Small businesses in the Mid-Atlantic region can apply for low-interest, long-term Economic Injury Disaster Loans of up to $2 million to help them recover from the economic disruption caused by the disaster.
SBA Administrator Isabel Casillas Guzman expressed her condolences for those who lost their lives in the collapse and offered support to those impacted by the disaster. The Biden-Harris Administration is also prepared to assist local small businesses as they begin the process of mourning and rebuilding in Baltimore and beyond.
The collapse of the bridge has had a significant impact on transportation routes in the region, with 1.3 million trucks crossing it each year and 3,600 trucks per day using it as their main route. However, due to safety concerns following the collapse, trucks carrying hazardous materials are now required to travel 30 miles of detours around Baltimore instead of using its tunnels. This has led to increased delays and higher fuel costs for these trucks.
The SBA’s assistance declaration covers not only Maryland but also adjacent counties and even includes Washington D.C. Eligible applicants include small businesses, small agricultural cooperatives, small aquaculture businesses, and private nonprofit organizations that have been affected by
