SBA disaster loans are now available to eligible businesses affected by the Empire Towers structural emergency in Anne Arundel County. Governor Wes Moore announced the federal approval on September 22, opening a new financial lifeline for disrupted companies, as reported by Baltimore Chronicle. The decision was confirmed by the Maryland Governor’s Office.
Who can receive SBA disaster loans
The declaration covers small businesses, small agricultural cooperatives and eligible private nonprofit organizations. Physical property damage is not required to qualify for assistance.
The Economic Injury Disaster Loans can provide up to $2 million in working capital. Funds may cover ordinary operating expenses caused by the disruption.
Eligible expenses include:
- payroll and employee costs;
- rent and fixed debts;
- accounts payable;
- utilities;
- other necessary operating expenses.
For businesses, the fixed interest rate is 4%. Private nonprofit organizations can receive loans at 3.625%. Repayment terms may extend for up to 30 years.
Borrowers also receive an initial relief period. Payments are not required during the first 12 months after disbursement. Interest does not accrue during that period.
What happened at Empire Towers
The emergency began on July 9 at Empire Towers, located at 7310 Ritchie Highway in Glen Burnie. Construction work compromised the parking garage beneath the 10-story office building.
Around 100 occupants were evacuated, with no injuries reported. County officials later established a 150-foot safety perimeter around the unsafe structure.
Current assistance conditions include:
| Support | Details |
|---|---|
| Maximum loan | Up to $2 million |
| Business interest rate | 4% |
| Nonprofit interest rate | 3.625% |
| Repayment period | Up to 30 years |
| Initial payments | None for 12 months |
The county says Empire Towers remains unsafe for public entry. Stabilization work is continuing around the damaged garage.
Where businesses can get application help
The SBA will open a Disaster Loan Outreach Center on September 24. It will operate at 7480 Baltimore Annapolis Boulevard in Glen Burnie.
The center will remain open through October 9. SBA representatives will help owners determine eligibility and complete applications.
The loans add to earlier local assistance. Anne Arundel County previously awarded 51 emergency grants totaling $127,500 to affected businesses.
For companies facing lost revenue rather than physical destruction, the EIDL program can provide working capital while normal operations remain disrupted.
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