FSK Bridge Collapse Resources

Support for Maryland Businesses Impacted by the Francis Scott Key Bridge Collapse

Following the collapse of the Francis Scott Key Bridge in Baltimore, Maryland, MEDA stands ready to support the state’s economic developers in bolstering businesses impacted by the closure of the Port of Baltimore. 

To assist impacted businesses during this critical time, Governor Wes Moore signed the PORT Act into law. The act offers essential support to Maryland businesses, equipping them with valuable resources for temporary economic and financial relief. With allocated funding, companies can address current challenges stemming from the closure of the Port of Baltimore. 

Application deadlines are fast approaching! Click below to learn more about available resources and apply.

MEDA will continue updating this page with resources and information as they are available.

Small Business Administration: Support Opportunities 

The Small Business Administration (SBA) is offering relief opportunities for businesses in Maryland to assist statewide small businesses—including agricultural cooperatives, aquaculture businesses, and private nonprofit organizations—affected by the Francis Scott Key Bridge collapse, including:

Business Recovery Centers 

The SBA established three Business Recovery Centers (BRC) in Maryland to offer business owners a space to connect with SBA specialists. At the BRCs, SBA specialists offer in-person guidance and assistance on completing loan applications, accepting documents, learning about additional programs, and other needs to help them navigate recovery. 

The BRC Locations are:

CareFirst Engagement Center 1501 South Clinton Street, Baltimore, MD 21224 Hours: Monday – Friday, 8 a.m. to 6 p.m.; Saturday, 10 a.m. to 2 p.m. Closed: Sunday

American Job Center 7930 Eastern Ave., Baltimore, MD 21224 Hours: Monday – Friday, 8:30 a.m. to 4:30 p.m. Closed: Saturday & Sunday

Glen Burnie Library 1010 Eastway, Glen Burnie, MD 21060 Hours: Monday – Thursday, 10 a.m. to 6 p.m.; Friday, 10 a.m.-5 p.m.; Saturday, 10 a.m. to 2 p.m. Closed: Sunday

Economic Injury Disaster Loans (EIDL) for Businesses and Nonprofits 

Economic Injury Disaster Loans (EIDLs) offer up to $2 million in working capital to help small businesses meet their normal financial obligations while in recovery. To help businesses ease their financial burdens, EIDLs offer low, fixed interest rates of 3.25% for nonprofits and 4% for businesses with a 30-year term. Payments to the loan are automatically deferred without interest for twelve months from the first date of disbursement. Applications must be accepted by December 30, 2024.

To learn more about the EIDL grant, click here for the fact sheet; click here for the fact sheet in Spanish; click here for the flyer; click here to visit the website.

Click here for the presentation slides on the EIDL program, presented by Liliana Tschanett, Public Affairs Specialist, Field Operations Center East, U.S. Small Business Administration, on May 15, 2024. 

Port of Baltimore Emergency Business Assistance Program

Operated by the Maryland Department of Commerce, the Port of Baltimore Emergency Business Assistance Program provides funding up to $100,000 to eligible businesses that can demonstrate economic and financial disruptions to their operations caused by the collapse and closure on March 26, 2024. 

Businesses must have fewer than 500 employees and primarily rely on the use of or access to the Port of Baltimore for their business. Eligible businesses must also have a principal location in the State of Maryland or use program funds within the state.

Click here to learn more. 

Neighborhood BusinessWorks Loans and Grants

The Maryland Department of Housing and Community Development’s Neighborhood BusinessWorks program will distribute $15 million in grant funding and no-interest loans to help affected Maryland businesses sustain their operations. 

Small Business Grants: $50,000 is available to help sustain small, main street businesses within a five-mile radius of the Francis Scott Key Bridge. 

Loan Program: $500,000 is available for businesses state-wide experiencing revenue loss or operational disruptions due to the Port of Baltimore’s closure. 

Click here to learn more. 

Port of Baltimore Worker Retention Program

The Port of Baltimore Worker Retention Program will help Maryland-based employers impacted by the bridge collapse retain employees and supplement lost income to support wages. 

Established by the Maryland Department of Labor, the program offers businesses that employ up to 500 workers, labor unions, trade associations, or other organizations up to $200,000 in grant funding for wages (up to $7,500 per worker) to keep employees on the job and avoid layoffs. 

Click here to learn more.