Baltimore Businesses OK’d for $165K in Riot Recovery Loans

February 16, 2016

The U.S. Small Business Administration has approved more than $165,000 in economic injury loans to help 38 Baltimore, Maryland-area small businesses and nonprofits recover from civil unrest related to the death of Freddie Gray.

The numbers released on Feb. 12 bring the total riot-related costs to at least $33.4 million. That includes a state estimate of $19.4 million for emergency protective measures and public-property damage, plus $12.9 million in paid insurance claims.

The low-interest SBA loans are to help small enterprises meet working capital needs. In July, the agency approved about $18,000 in loans to help repair physical damage to 24 properties.

The Baltimore Development Corp. says more than 400 businesses sustained damage or inventory losses.

Gray was a 25-year-old black man who died in April from injuries he suffered in police custody.

Latest Comments

  • February 16, 2016 at 2:42 pm
    Agent says:
    Jack, do you think the insurance market excluded Riot and Civil Commotion from claims suffered by the business community? I always thought it was covered under Extended Cover... read more
  • February 16, 2016 at 1:59 pm
    Jack says:
    All lives matter...just sayin! To call him a "black man" is an insult to everyone.
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