Maryland Man Accused Of Obtaining $700K PPP Loan To Trade Stocks
A Maryland man is accused of defrauding the Paycheck Protection Program to the tune of more than $700,000, which authorities say he used to trade stocks.
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A Maryland man is accused of defrauding the Paycheck Protection Program to the tune of more than $700,000, which authorities say he used to trade stocks.
Help for Americans struggling amid the COVID-19 pandemic is coming in the form of stimulus checks and loans for businesses, but the exact amount people will get remains uncertain.
Predominantly white communities in Maryland received approximately 20 percent more loans and money per loan under the Paycheck Protection Program compared to predominantly Black communities, according to data from the Small Business Administration (SBA) analyzed by Capital News Service.
The governors of at least eight states have ties to companies that received loans through the Small Business Administration's Paycheck Protection Program.
Maryland is getting another nearly $206 million to help expand its coronavirus testing capacity, the state's congressional delegation announced Wednesday.
Orrstown Bank took a trip to the White House Tuesday to discuss how the Paycheck Protection Program is helping small businesses across Maryland and Pennsylvania during the COVID-19 pandemic.
The county is setting aside $10 million in new grant funding for small businesses and offering $100,000 in grants to assist professional artists, musicians and performers.
While some have been able to secure loans from the federal government, others applied too late. And now, they're hopeful there will be a second round of funding approved at some point this week.
According to a report from the SBA, 26,068 businesses in Maryland got more than $6.5 billion as part of the Paycheck Protection Program as of noon on Thursday.
