A federal program offering loans to small businesses affected by the collapse of Baltimore’s Francis Scott Key Bridge has garnered significant interest, with officials reporting 500 applications received. The funds, set to be distributed within approximately two weeks, aim to provide support to companies during the closure of the city’s crucial port to most maritime traffic. The U.S. Small Business Administration, led by Isabella Casillas Guzman, is overseeing the initiative.
Businesses in transportation and supply chain logistics are expected to face the most immediate challenges, with long-term repercussions anticipated to be widespread. The closure of Baltimore’s port, which is a key hub for car and farm equipment shipments, has caused logistical disruptions along the East Coast.
