Baltimore Community Foundation Launches Small Business Direct Grant Program for Key Bridge Collapse Recovery

New phase of $5 million Small Business Support program provides critical relief from BCF's Maryland Tough Baltimore Strong Key Bridge Fund

BALTIMORE, Feb. 20, 2025 /PRNewswire/ -- The Baltimore Community Foundation (BCF), in collaboration  with the Greater Baltimore Committee (GBC) and three local community development organizations, today announced its Key Bridge Small Business Direct Grant Program to provide direct cash assistance for businesses severely impacted by the Francis Scott Key Bridge collapse last March. Backed by BCF's Maryland Tough Baltimore Strong Key Bridge Fund, this initiative will give priority to businesses located in Southeastern Baltimore City, Southeastern Baltimore County, and Northern Anne Arundel County.

The online applications for the grants opened on February 18 and will close on March 20, followed by a 30-day review period.

"As the backbone of our communities, small businesses in the impacted communities have felt immense financial strain since the Key Bridge collapse," said BCF's President and CEO Shanaysha Sauls. "This program is designed to give them the working capital they need to adapt and continue contributing to the economic vitality of our region."

"In Maryland, we move mission-first, people-always. After the collapse of the Key Bridge, we worked in partnership with leaders across the public and private sectors and all levels of government to protect and uplift our small businesses. And today, we take another step forward in our commitment to that pledge, said Gov. Wes Moore. "I want to thank the Baltimore Community Foundation for their continued leadership and for proving what it means to be Maryland Tough and Baltimore Strong."

About the Maryland Tough Baltimore Strong Key Bridge Fund and Key Bridge Small Business Direct Grant Program

Established within 48 hours of the Key Bridge collapse, the Maryland Tough Baltimore Strong Key Bridge Fund has grown to $16 million through support from national, regional, and local businesses and donations from individuals. Its resources have supported direct cash assistance for Port of Baltimore workers, grants to charitable organizations and community-strengthening programs providing relief to those affected, and more recently, capacity building and financial aid to area small businesses.

The Key Bridge Small Business Direct Grant Program addresses the losses in revenue, increased costs, and operational challenges stemming from the collapse. Grants will range from $10,000 to $50,000, helping businesses stabilize operations, pivot business models, and invest in long-term viability.

Eligible businesses may submit applications online in English starting on February 18. Applications will only be accepted through one of the following designated partner organizations, all of whom have staff available to assist applicants in Spanish or in English:

Anne Arundel County Economic Development Corporation (AAEDC)

• Application linked here
• For applicants located in Anne Arundel County or other parts of Maryland

Baltimore Community Lending (BCL)

• Application linked here
• For applicants located in Baltimore City or other parts of Maryland

Latino Economic Development Center (LEDC)

• Application linked here
• For applicants located in Baltimore County or other parts of Maryland

BCF and its partners will coordinate on grant evaluation and fund distribution to ensure an equitable and efficient process. Additional support and guidance will be provided during the application period, ensuring businesses receive the assistance needed to sustain operations and continue serving the community.

Eligibility requirements for the Key Bridge Small Business Direct Grant Program:

• Demonstrate significant impact from the Key Bridge collapse; preference will be given to businesses located in Southeastern Baltimore City, Southeastern Baltimore County, and Northern Anne Arundel County.
• Must provide a 2023 profit and loss statement, along with a year-end 2024 balance sheet and 2024 profit and loss statement to demonstrate viability and feasibility.
• Must have been operational for at least two years as of March 26, 2024, with a minimum revenue of $50,000 for one of the prior two years.
• Must employ at least two people, including owner(s).

"The collapse of the Francis Scott Key Bridge on March 26, 2024 significantly affected small businesses throughout the impacted areas of Baltimore City, Baltimore County, and Anne Arundel County," said GBC President and CEO Mark Anthony Thomas. "The establishment of today's Key Bridge Small Business Direct Grant Program will be instrumental in supporting the small businesses and healthy commercial corridors that are central to a strong regional economy."

For more information on the Key Bridge Small Business Direct Grant Program and how to apply, please visit https://www.bcf.org/keybridge-directgrant-smallbiz

In September 2024, BCF and GBC launched phase one of BCF's small business support, focused on providing technical assistance to small businesses. Separate from the Key Bridge Small Business Direct Grant Program, BCF encourages nonprofits that provide technical assistance or capacity building to small businesses to apply for funding. More details can be found at bcf.org/keybridgesmallbusiness/

About the Baltimore Community Foundation
For over 50 years, the Baltimore Community Foundation (BCF) has connected people who are passionate about their community and purposeful in their philanthropy. BCF amplifies donors' philanthropy with strategic grants, impact investments, special initiatives, and advocacy to strengthen schools and neighborhoods. Visit www.bcf.org to discover meaningful giving, invest your funds wisely, and join a diverse community working for a better Baltimore.

About the Greater Baltimore Committee
The Greater Baltimore Committee (GBC) is the leading economic and civic organization for the Baltimore Region, providing insightful economic and civic leadership to drive collective impact. GBC is powered by nearly 400 private sector partners, including large, mid-size, and small companies; nonprofits; foundations; and educational and healthcare institutions, the GBC is dedicated to fostering the prosperity of the Greater Baltimore region. Founded in 1955, the GBC merged in 2022 with the Economic Alliance of Greater Baltimore—an organization that marketed the region for business investments—and hired its first new leader in more than two decades.

SOURCE ABEL COMMUNICATIONS