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Hundreds of small businesses apply for federal loans after Baltimore bridge collapse

Five hundred businesses have applied for financial assistance stemming from the collapse of the Francis Scott Key Bridge last week, the administrator for the U.S. Small Business Administration announced Thursday. The SBA has deemed mid-Atlantic businesses impacted by the bridge collapse eligible for Economic Injury Disaster Loans (EIDLs) of up to $2 million to help overcome temporary loss of revenue from the collapse and Port of Baltimore’s closure to most maritime traffic.

Dundalk bank steps up to help customers in wake of bridge collapse

The only bank based in Dundalk has launched two programs to help businesses and individuals affected by the tragedy that happened in its backyard. Tim Prindle, the CEO of Bay Vanguard Bank (Nasdaq: BVFL), said the bank will start offering no-interest lines of credit and will allow eligible loan recipients to skip some interest payments. He hopes the programs could help some customers, including longshoremen, and others who were affectedby the collapse of the Francis Scott Key Bridge. The local bank joins federal and state agencies that are offering programs to help businesses impacted by the bridge collapse.

Baltimore Skyline
Here are Greater Baltimore’s Best Places to Work for 2024

As the workplace continues to evolve, the Baltimore Business Journal is spotlighting 50 companies that have managed to keep employee engagement high with our 2024 Best Places to Work awards. Each year, the many nominations we receive for these awards are delivered to our partner, Omaha, Nebraska-based Quantum Workplace. Quantum then surveys each qualifying company’s employees directly to ascertain employee engagement, scoring on leadership, culture, benefits, diversity, equity and inclusion, and more. T

Maritime terminal prepares for influx of redirected ships as Baltimore bridge cleanup continues

The only maritime shipping terminal currently operating in the Port of Baltimore is preparing to process an influx of ships as crews continue clearing the mangled wreckage of the collapsed Francis Scott Key Bridge. Tradepoint Atlantic will unload and process an estimated 10,000 vehicles over the next 15 days, according to a company statement.

Maryland to spend $25.7M on Baltimore Convention Center renovation

The Baltimore Convention Center is about to get a multimillion-dollar face-lift. On Wednesday, the city’s spending board unanimously approved $25.7 million in state funds to tackle a number of projects at the facility. Lawmakers earmarked the money in a 2023 spending bill after the city-owned convention center flagged several pressing needs. They included sprucing up the bathrooms, modernizing the phone system, upgrading its lighting and renovating the “failing” bridges that span Charles Street.

Churchill Downs makes late bid to buy Pimlico as state mulls takeover of racing industry

As Maryland lawmakers consider a plan for the state to take ownership of the historic Pimlico Race Course in Baltimore, another potential owner has entered the discussion: Churchill Downs. Churchill Downs Inc., the publicly traded parent company of the Louisville track that hosts the Kentucky Derby, has made an “overture” to buy Pimlico, home of the Preakness Stakes, according to two sources in the state capital familiar with the negotiations.

CareFirst opens 2nd business recovery center for Key Bridge collapse relief efforts

CareFirst BlueCross BlueShield, one of the largest not-for-profit health care organizations in the nation, opened space in its Baltimore headquarters office April 1 to assist the U.S. Small Business Administration’s (SBA) efforts to help businesses affected by the Francis Scott Key Bridge collapse. The opening of the CareFirst Engagement Center in Baltimore at 1501 South Clinton St. came days after Gov. Wes Moore requested a disaster declaration from the SBA to allow small businesses to apply for federal loans to help make payroll and cover other bills resulting from the closure of Baltimore’s port due to the collapse of the Key Bridge.

work flow
Data Privacy Bill Worries Chamber Of Commerce, Small Business Owners

The Online Data Privacy Act of 2024, a proposed bill that would affect data collection and online privacy, has already passed the Senate and is being considered in the House of Delegates. The Maryland Chamber of Commerce and several small businesses testified against this legislation with their concerns. “We operate completely online. Digital ads are one of the primary ways we find new customers, grow our business, and compete with national brands, said T|W Tote owners Sherika and Shallon.

Read More: The Baynet
yellow and black CSX train
CSX adds Baltimore-NY freight route to ease impact of Port of Baltimore closure

CSX Transportation has launched a dedicated freight route between Baltimore and New York City as part of an effort to reroute cargo following the collapse of the Francis Scott Key Bridge. The Port of Baltimore, one of the most active on the East Coast and the single largest importer of cars in the United States, has been mostly closed since a nearly 1,000-foot cargo ship lost power and struck a support column of the bridge, toppling the 47-year-old structure.

Leadership Maryland announces Emerging Leader Program inaugural class

Leadership Maryland, the statewide nonprofit offering professional development programs dedicated to building a better Maryland by harnessing the strength of its business and community leaders, Tuesday announced the 40 individuals selected to participate in the first class of the Emerging Leader Program. The Emerging Leader Program’s Class of 2024 consists of 40 rising stars and high-potential employees from across the state who are poised for upward growth within their organizations and who are eager to hone their core leadership skills.

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