Small business owners across Baltimore are reeling from
the aftershocks of violent and fiery protests and looting on April 25 and 27. Officials
report that more than 235 businesses sustained physical damage.
Bar and pub owners, forced by a mandatory 10 p.m. curfew
to turn off their lights on full houses, lost a considerable portion of their
daily revenue. “[I]t hurts the economy from the top down,” Jason Zink, owner of
the Smaltimore bar, told the Baltimore Sun. Zink expects
to lose up to 50 percent of his weekly revenue.
Meanwhile, public officials are rushing to keep business
owners from leaving the city. According to the Baltimore Business Journal, the
Maryland Insurance Administration is providing
information to owners who experienced property damage about recovering
their losses. Some businesses may receive help from the U.S. Small Business
Administration and state Department of Business and Economic Development.
On Wednesday, Governor
Hogan activated the resources of state government and launched a new,
zero percent interest microloan program for small businesses damaged. Awards of
up to $35,000 will be on a first-come, first-served basis and will be available
businesses with five or fewer employees that are located inside the Baltimore
City “Sustainable Communities” boundaries. For more information visit
the Maryland Department of Housing and
Community Development website.
If you have questions, or to begin your application,
please contact:
Cheivelle Hill, Underwriter, Business Lending Programs
Phone: 410-209-5800
Email: [email protected]
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