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SBA Opens Economic Injury Disaster Loans Due to Bridge Collapse

April 5th, 2024 by WCBC Radio

The collapse of the Francis Scott Key Bridge has caused far-ranging effects for businesses throughout the state.

The Small Business Administration has opened Economic Injury Disaster Loans for those businesses that may be affected by this incident. Small businesses and private nonprofit organizations can now apply for a loan of up to $2 million to help overcome any temporary loss of revenue stemming from the bridge collapse.

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.