In the aftermath of the recent bridge collapse in Baltimore, small businesses affected by the disaster now have an opportunity to apply for relief through the Small Business Administration. During a visit to one of the two application locations, Governor Wes Moore and Senator Ben Cardin emphasized the importance of the low-interest, 30-year duration loans being offered.
Senator Cardin highlighted the benefits of these loans, explaining that there are no immediate burdens or obligations in the first year, giving small business owners and independent contractors a chance to catch their breath and keep their businesses running despite the loss of revenue. This relief can make all the difference for those trying to recover from this unexpected disaster.
The SBA recommends that business owners apply as soon as possible, even if they are unsure of the full extent of the impact on their business. The deadline for applications is December 30th, so time is of the essence for those seeking assistance in recovering from this disaster. It is important to take advantage of this opportunity to get back on track and ensure that your business can continue to thrive in the long term.
