The Small Business Administration (SBA) opened two recovery centers to help businesses impacted by the Francis Scott Key Bridge collapse, on Monday.
According to the SBA, agricultural cooperatives, microscale aquacultures and private nonprofits are among the enterprises that can apply for disaster loans of up to $2 million to cover profit losses.
One recovery center is located at the CareFirst Engagement Center in Baltimore City, the other at 11 Center Place in Dundalk. At that location is Tasha Gresham-James, the head of Dundalk Renaissance, a local community development organization.
Gresham-James told WYPR that she expects the coming weeks to be busier. “Right now everyone is getting set up,” she said. “We know that tomorrow will probably be a very busy day and the rest of the week, and the weeks to come will be extremely busy.”
The disaster declaration covers small business owners across all of Maryland and some counties in surrounding states. The loans may be used to pay normal operating expenses such as fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disruption, said an SBA spokesperson.
“While no amount of business preparedness could have seen something like this coming, we are pleased to have been able to get this Economic Injury Disaster declaration so quickly,” said SBA’s Maryland District Director Stephen Umberger, in a press release.
Interest will begin accruing a year after the first disaster loan disbursement.
“Anyone who's out of work or likely to be out of work can come here and make sure that they're getting connected to their unemployment insurance benefits,” said Baltimore County Executive Johnny Olszewski, who visited the Dundalk Center. “Those benefits are a fraction of individual salaries, so we're having conversations with the state and federal partners about how to do additional supplements because this is something that is through no fault of these workers or these businesses.”
Applicants can also apply online at sba.gov/disaster.