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Tag Archives: small business administration

Court: Hagerstown shop owner, ex-con, can seek PPP loan

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A Hagerstown small-business owner hammered by the pandemic-related store closures can reapply for an emergency federal loan after a U.S. agency eased its rule against extending loans to convicted felons on parole, a federal judge has ruled. U.S. District Judge ...

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Civil rights groups challenge loan rules on criminal records

Edward A. Garmatz United States Courthouse in Baltimore (File)

SILVER SPRING — The Trump administration says a recent rule change allows small business owners convicted of felonies to apply for government loans to help them weather the COVID-19 pandemic, but civil rights groups claim the program revision doesn’t go ...

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Minority, woman-owned businesses allege federal loan bias

U.S. District Court Greenbelt

The federal government intentionally discriminated against minority- and woman-owned businesses in its recent distribution of nearly $350 billion in loans to save small companies desperate to survive amid the United States’ pandemic-induced economic freefall, struggling Maryland businesses allege in a ...

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TEDCO awarded SBA FAST grant

The Maryland Technology Development Corporation (TEDCO) was awarded a grant of up to $125,000 Tuesday by the U.S. Small Business Administration under its Federal and State Technology (FAST) Partnership Program. The program’s objective is to improve outcomes for underrepresented entrepreneurs ...

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Lending by big banks to small businesses hits record high, study finds

The big Wall Street banks have been reporting billions of dollars in paper losses in January 2018, as they are forced to come into compliance with the new tax law. The biggest loser so far has been Citigroup, which reported an $18 billion loss due to the tax law. (AP Photo/Eric Risberg, File)

One thing that’s critical for growth in a capitalistic economy and that’s capital. Small businesses, which have created two out of three new jobs in this country in recent years, are the ones with big capital needs. The good news ...

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Report: Baltimore small businesses need more capital

M&T Bank was the No. 1 lender in the Baltimore SBA district with 260 loans for $36.2 million. M&T issued more than 43 percent of the total number of 7(a) loans in the district and increased its number of loans and dollar volume by 10 and 22 percent over the previous fiscal year, respectively. (File photo)

Baltimore must do more to attract venture capital and other financing for its small businesses and startup companies, a new report from Johns Hopkins University’s 21st Century Cities Initiatives found. While available capital and financing has improved over the last ...

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Former wrestling exec Linda McMahon confirmed to lead SBA

FILE - In this Jan. 24, 2017, file photo, Small Business Administration Administrator-nominee,former wrestling entertainment executive, Linda McMahon testifies on Capitol Hill in Washington,at her confirmation hearing. McMahon is on track to secure Senate confirmation to be the next leader of the Small Business Administration. (AP Photo/Alex Brandon, File)

WASHINGTON — The Senate has confirmed former wrestling entertainment executive Linda McMahon to lead the Small Business Administration. The vote was 81-19 on Tuesday. Senate Majority Leader Mitch McConnell of Kentucky says McMahon will “prioritize growing jobs over growing government ...

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