On Saturday, the Small Business Administration Administrator Isabel Casillas Guzman announced that Mid-Atlantic small businesses that were affected by the Francis Scott Key Bridge collapse may apply for low-interest, long-term Economic Injury Disaster Loans .“The SBA joins the entire federal family in grieving for the lives lost in the tragic collapse of the Francis Scott Key Bridge,” said Administrator Guzman.
The declaration applies to small businesses, small agricultural cooperatives, small aquaculture businesses and private nonprofit businesses. Applicants in those areas can apply for EIDL of up to $2 million to help with loss of revenue from the bridge collapse.These loans can help with paying for normal business expenses such as debts, payroll and other bills that can’t be paid due to the collapse.
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Small business owners win lawsuit against Biden administration over race-based financial supportThree small business owners successfully sued the Biden administration for attempting to provide government financial support based on race. The lawsuit was filed by the Wisconsin Institute for Law & Liberty (WILL) on behalf of the plaintiffs against the Minority Business Development Agency (MBDA). The MBDA aimed to support minority-owned businesses, but the plaintiffs were denied assistance due to their race.
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