SBA Urges Business Owners to Apply for Assistance Without Delay

Governor Wes Moore and Senator Ben Cardin recently visited one of the two locations where small businesses affected by the bridge collapse in Baltimore can apply for disaster relief through the Small Business Administration. The SBA is offering low-interest loans with a 30-year duration and no immediate burden or obligations during the first year, which will allow small business owners and independent contractors to keep their businesses running despite a decrease in revenue.

Cardin highlighted the importance of this assistance, emphasizing that business owners should apply as soon as possible, even if they are unsure of the full extent of the impact the collapse may have on their business. The deadline to apply for disaster relief is December 30th. This support is crucial for helping small businesses recover and continue operations during this challenging time.

The SBA’s disaster relief program provides financial assistance to help small businesses overcome unexpected disasters such as natural disasters, terrorist attacks, or other man-made disasters. This program offers a range of services including low-interest loans, grants, counseling, and training to help small business owners recover from disasters and grow their businesses in the long term.

Small businesses are an important part of our economy, providing jobs and contributing to local communities. The collapse of the bridge in Baltimore has had a significant impact on these businesses, causing loss of revenue and making it difficult for them to continue operations. However, with the SBA’s disaster relief program, these small businesses can receive the support they need to recover and thrive in the future.

By Riley Johnson

As a content writer at newsmol.com, I dive into the depths of information to craft compelling stories that captivate and inform readers. With a keen eye for detail and a passion for storytelling, I strive to create engaging content that resonates with our audience. Whether it's breaking news, in-depth features, or thought-provoking opinion pieces, I am dedicated to delivering high-quality, informative content that keeps readers coming back for more. My goal is to bring a fresh perspective to every article I write and to make a meaningful impact through the power of words.

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