Baltimore Businesses OK'd For $165K In Riot Recovery Loans

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

The numbers released Friday 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.

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