Small Business Administration Archives

Baltimore County businessman pleads guilty to fraudulently obtaining over $1.3 million in COVID-19 CARES Act loans

Posted on October 9, 2024 by Chris Montcalmo

BALTIMORE, MD—A Baltimore County businessman has admitted to using more than $1.3 million in Paycheck Protection Program loans to purchase a Mercedes-Benz and make extensive home renovations, federal authorities announced. David Epstein, 46, of Owings Mills, pleaded guilty to one count of wire fraud after submitting fraudulent CARES Act loan applications, according to the U.S. Attorney’s Office in Maryland. The […]

Baltimore City employee admits to bribery, PPP fraud

Posted on September 3, 2024 by Chris Montcalmo

BALTIMORE, MD—A former Baltimore City employee has admitted to taking bribes and defrauding the federal Paycheck Protection Program (PPP). Joseph Gillespie, 35, of Baltimore, was found to have stolen more than $250,000 in bribes and received more than $138,000 in fraudulent PPP loans. Gillespie pleaded guilty on Friday to conspiracy to commit wire fraud and bribery. He worked for the […]

SBA Business Recovery Centers open in Baltimore area following Key Bridge collapse

Posted on April 1, 2024 by Chris Montcalmo

BALTIMORE, MD—On Monday, the U.S. Small Business Administration will begin to operate Business Recovery Centers to assist business owners in completing disaster loan applications, accept documents for existing applications, and provide status updates on loan applications in response to the collapse of the Francis Scott Key Bridge. These Centers will operate as indicated below until further notice. BALTIMORE COUNTY Opening: […]

Maryland’s new HUBZone designations open doors for small businesses

Posted on February 23, 2024 by Chris Montcalmo

ANNAPOLIS, MD—Governor Wes Moore this week announced that Maryland is better positioned to compete for federal contracts for small businesses located in historically underutilized areas thanks to new HUBZone designations. The designations are a result of the governor’s office submitting a petition to the U.S. Small Business Administration, which allows the state to choose areas in need of economic development. […]

Baltimore County man, woman plead guilty to fraudulently obtaining over $300,000 in COVID-19 CARES Act loans

Posted on January 14, 2024 by Chris Montcalmo

BALTIMORE, MD—A Baltimore County man and woman have pleaded guilty to fraudulently obtaining more than $300,000 in federal COVID-19 CARES Act loans. Theodore Mouzon, 42, of Pikesville, has pleaded guilty to conspiracy to commit wire fraud, relating to the submission of fraudulent CARES Act loan applications. Co-defendant Yannice Nunez, 34, of Baltimore County, pleaded guilty to the same charge on […]

Former Maryland social media influencer sentenced to 3 years in prison for scheming to obtain over $1.2 million in COVID-19 CARES Act loans

Posted on January 12, 2024 by Chris Montcalmo

GREENBELT, MD—A Maryland man has been sentenced to prison in connection with a scheme to fraudulently obtain more than $1.2 million in federal relief loans. U.S. District Judge Deborah L. Boardman has sentenced Denish Sahadevan, a/k/a “Danny Devan,” 32, of Potomac, to three years in federal prison, followed by three years of supervised release, for wire fraud, aggravated identity theft […]

Governor Moore announces record federal funding to support international efforts for Maryland small businesses

Posted on October 19, 2023 by Chris Montcalmo

ANNAPOLIS, MD—Governor Wes Moore this week announced that the Maryland Department of Commerce has received a $750,000 grant from the U.S. Small Business Administration to broaden the state’s international reach and help companies create jobs and access new foreign markets. The funding is the highest single award that the department has ever received through the State Trade Expansion Program, which […]

Governor Moore announces $15 million available for small business relief

Posted on May 17, 2023 by Chris Montcalmo

ANNAPOLIS, MD—Governor Wes Moore this week announced a $15 million commitment to minority-led small business lender Lendistry to provide relief to Maryland small businesses. The commitment is the latest investment through the State Small Business Credit Initiative, through which Maryland is deploying up to $198 million in federal relief. “As the first Community Development Fund Institution to begin offering loans […]

Tag: Small Business Administration