Maryland Businesses Get Disaster Loans After Empire Tower Incident
Published Date: 9/24/2026
Notice
Summary
Maryland small businesses and nonprofits near Anne Arundel and nearby counties can now apply for special low-interest disaster loans because of the Empire Tower incident starting July 9, 2026. These loans help cover economic losses and must be applied for by June 21, 2027. This is a big financial boost to help local businesses bounce back stronger and faster!
Analyzed Economic Effects
3 provisions identified: 3 benefits, 0 costs, 0 mixed.
Disaster Loans Available to Maryland Small Businesses
If you are a small business or private nonprofit in Anne Arundel County or the listed contiguous Maryland counties (Baltimore City, Baltimore County, Calvert, Howard, Kent, Prince George's, Queen Anne's, Talbot), you may apply for Economic Injury Disaster Loans (EIDL) because of the Empire Tower incident that began July 09, 2026. Applications may be submitted through the MySBA Loan Portal and must be filed by June 21, 2027.
4.000% Interest Rate for Eligible Businesses/Co-ops
Businesses and small agricultural cooperatives that lack credit elsewhere are eligible for EIDL at an interest rate of 4.000 percent. This rate applies when credit is not available from other sources.
3.625% Interest Rate for Eligible Private Nonprofits
Private nonprofit organizations that do not have credit available elsewhere may apply for EIDL at an interest rate of 3.625 percent. This rate applies only where other credit is unavailable.
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