GLEN BURNIE, MD — Months after the Empire Towers office building was declared structurally unsound and made off-limits to the public, Maryland Gov. Wes Moore is asking the Small Business Administration for federal economic disaster loans.
The request, made late Thursday, aims to provide impacted businesses with low-cost loans that can help owners "navigate economic hardship and rebuild."
"Local businesses have been profoundly affected by the structural emergency at Empire Towers that occurred in July," Moore said in a release.
"These small businesses, ranging from medical clinics and insurance agencies to commercial cleaning and training services, are the backbone of the community."
The disaster loans are available for up to $2 million and carry interest rates as low as 4%, with terms of up to 30 years, according to the release.
Payments are also not required during the initial 12 months as interest does not accrue after the funding is disbursed. Business owners do not need to provide evidence of physical damages to be eligible for the aid.
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The latest development in the Empire Towers fallout comes after building officials revealed that plans were in place to begin removing some of the cars stranded in the underground parking garage.
CBS Baltimore reported that any car eligible for removal required a few things before it could be driven out, such as a signed liability waiver and key drop-offs.
Work at the building remains in its second repair phase, which is expected to continue for the next several weeks.
The Glen Burnie building has been closed to the public since early July, when officials implemented a 150-foot safety perimeter after unpermitted construction work compromised its stability.
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