SBA Opens Second Business Recovery Center in Baltimore, Maryland to Assist Mid-Atlantic Small Businesses Affected by the Francis Scott Key Bridge Collapse

Atlanta, GA – The U.S. Small Business Administration (SBA) announced today it will open a second  Business Recovery Center (BRC) on Monday, April 1 at the CareFirst Engagement Center, 1501  South Clinton Street in Baltimore. SBA is opening the Center to assist Mid-Atlantic businesses  affected by the Francis Scott Key Bridge Collapse. 

“Our Business Recovery Centers are one of the most powerful resources at SBA’s disposal to  support business owners in the midst of a disaster,” said Francisco Sánchez, Jr., associate  administrator for the Office of Disaster Recovery and Resilience at the Small Business  Administration. “Business owners can meet in-person with our specialists to apply for SBA  disaster loans and get information on the full breadth of our programs designed to help them  navigate their recovery.” 

The disaster declaration covers the entire state of Maryland and contiguous counties, including  the District of Columbia; Kent, New Castle, and Sussex in Delaware; Adams, Bedford, Chester,  Fayette, Franklin, Fulton, Lancaster, Somerset, and York in Pennsylvania; Accomack,  Independent City of Alexandria, Arlington, Fairfax, and Loudoun in Virginia; and Berkley, Grant,  Hampshire, Jefferson, Mineral, Morgan, and Preston in West Virgina.  

Customer Service Representatives at SBA’s Business Recovery Centers will assist business owners  in completing their disaster loan applications, accept documents for existing applications, and  provide status on loan applications. The Centers will operate as indicated below until further  notice.

The declaration applies to small businesses, small agricultural cooperatives, small aquaculture  businesses, and private nonprofit organizations. Applicants in the declared area can now apply  for a federal Economic Injury Disaster Loan (EIDL) of up to $2 million to help overcome any  temporary loss of revenue stemming from the bridge collapse. These 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.  

Eligibility is based on the financial impact of the disaster only and not on any actual property  damage. These loans have an interest rate of 4% for small businesses and 3.25% for private  nonprofit organizations with terms up to 30 years and are restricted to small businesses without  the financial ability to offset the adverse impact without hardship. 

Interest does not begin to accrue until 12 months from the date of the first disaster loan  disbursement. SBA disaster loan repayment begins 12 months from the date of the first  disbursement. 

Applicants may apply online and receive additional disaster assistance information at  sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or  email DisasterCustomerService@sba.gov for more information on SBA disaster assistance. For  people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access  telecommunications relay services.  

The filing deadline to return economic injury applications is Dec. 30, 2024.