Additional Resources for Baltimore Small Businesses

SBA Announces Additional Resources for Baltimore Small Businesses

Federal and Local Officials Continue Efforts to Help Baltimore Businesses Recover

BALTIMORE – The Administrator of the SBA, Maria Contreras-Sweet, today joined Mayor Stephanie Rawlings-Blake, Sen. Ben Cardin, Rep. Elijah Cummings, John Sarbanes and Dutch Ruppersberger, as well as Baltimore Development Corporation (BDC) President and CEO William H. Cole, IV, to announce additional resources to help businesses damaged by the civil unrest. In addition to previously announced disaster assistance for small business and home owners, the SBA has pulled together resources aimed to help rebuild the Baltimore community after recent events.

 “The SBA is a small agency chartered with helping small businesses, but these businesses play the biggest role of any American institution when it comes to job creation,” said Contreras-Sweet. “SBA is committed to empowering Baltimore’s entrepreneurs to rebuild and realize their potential.”

The package consists of four main components: additional funding for microloans and PRIME grants, technical assistance and government contracting emphasis, an increase for entrepreneurial development funding, and a targeted push to bring high-tech innovation to Baltimore.  Together, this package will create jobs and boost the local economy, while establishing a foundation for advanced growth and ingenuity from the areas impacted by recent civil unrest.

Details about the package can be found at: http://1.usa.gov/1JchrUR

The SBA has already set up Assistance Operations Centers to answer questions about the disaster loan program for small businesses affected by the riot and helps individuals complete their applications. For more information about the SBA's Disaster Loan Program, visit www.sba.gov/disaster. BDC has established a Business Recovery Team to assist impacted businesses. Businesses will be connected with a BDC representative by signing up at www.BaltimoreBusinessRecovery.org.

 

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