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Baltimore Bridge Collapse: Small Business Relief
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Over 500 small businesses in Baltimore apply for federal disaster loans following the bridge collapse, affecting thousands of employees. The SBA offers long-term, low-interest loans to support businesses unable to meet their obligations due to the disaster, with interest rates set at 4% for businesses and 3.25% for nonprofits.
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How can small businesses in Baltimore strategize to mitigate future risks and ensure resilience in the face of such disasters?
How might the bridge collapse and subsequent port closure impact the overall economic landscape of Baltimore?
What measures can the SBA take to expedite the loan approval process for businesses in need of immediate financial assistance?
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