Business, Politics

Frosh joins coalition urging Congress to strengthen Paycheck Protection Program

NOTTINGHAM, MD—Maryland Attorney General Brian E. Frosh on Wednesday joined a coalition of 23 state attorneys general in calling for key changes to the Paycheck Protection Program (PPP) to ensure that funds are distributed fairly and equitably. In a letter sent to Congressional leadership, the attorneys general express concern that the program, while helping some small businesses and their employees, …


Business

SBA lenders to begin taking applications for 2nd round of Paycheck Protection Program funding on Monday

NOTTINGHAM, MD—On Monday, SBA lenders will begin taking applications again for the second round of funding for the Paycheck Protection Program. Baltimore County officials say funding will be very limited so business owners should be prepared to submit their applications first thing on Monday morning. The first round of PPP funding was exhausted in less than two week. This second …


Federal Reserve announces an additional $2.3 trillion in loans to support the economy, Powell predicts recovery

WASHINGTON, DC—The Federal Reserve on Thursday took additional actions to provide up to $2.3 trillion in loans to support the economy. This funding will assist households and employers of all sizes and bolster the ability of state and local governments to deliver critical services during the coronavirus pandemic. “Our country’s highest priority must be to address this public health crisis, …

CARES Act Paycheck Protection Program rolls out for Baltimore County small businesses

BALTIMORE, MD—The United States Treasury and the Small Business Administration are offering programs that will assist Baltimore County’s small businesses during the coronavirus pandemic. The new Paycheck Protection Program rolls out on Friday, April 3, 2020. The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic …

Governor Hogan announces Maryland’s official designation for SBA economic injury loans during COVID-19 pandemic

ANNAPOLIS, MD—Governor Larry Hogan this week announced that Maryland has received official designation from the U.S. Small Business Administration (SBA) for its Economic Injury Disaster Loan (EIDL) program, which provides low-interest federal disaster loans for small businesses impacted by the COVID-19 pandemic. According to the SBA, the loans will help alleviate financial strain and allow businesses to pay bills, payroll, …