Inflation Woes: Did PPP loans $25,000 or under to Maryland businesses contribute to inflation?

By Maryland State Wire

Nov 2, 2022

There were 61,333 small businesses in Maryland which received Paycheck Protection Loans (PPP) of $25,000 or under. These 61,333 businesses received $799,933,617 in total since the COVID-19 pandemic began, according to the U.S. Small Business Administration

Loans of $25,000 were provided to 365 businesses.

The largest loan underneath the $25,000 threshold was $25,000, given to Fiels Distributing, LLC.

The average loan amount provided to Maryland small businesses was $77,907.

One of the biggest drivers causing inflation, which is currently decimating the U.S. economy, is loans. With more money available to residents through the PPP, the purchasing power of that money is diminished, meaning it takes more money to buy the same amount of goods as before.

Economist Mickey D. Levy argued the PPP and many other assistance programs offered during the COVID-19 pandemic sparked the inflation seen in recent months by boosting the economy beyond what it could reasonably handle.

Roughly $800 billion was injected into the U.S. economy while interest rates were low, causing people to overextend themselves at the time to land in trouble in the future, he claimed.

A 2022 study found that the PPP spent between $169,000 and $258,000 to protect one job. With the average salary of a small-business worker being around $58,000, the study found the program overspent by roughly 75 percent.

Top 100 Maryland Businesses Which Received PPP Loans $25,000 or Lower

Borrower Name	Loan Amount	Difference From Average Loan Amount in MD
Fiels Distributing, LLC	$25,000	-$52,907
The Glassroth Company, LLC	$25,000	-$52,907
Serenity Counseling	$25,000	-$52,907
Keep It Pushin Transportation, LLC	$25,000	-$52,907
Columbia Concrete and Stoneworks, LLC	$25,000	-$52,907
Up Next Creative, LLC	$25,000	-$52,907
Helping People Maryland, Inc.	$25,000	-$52,907
Downtown Investments, LLC	$25,000	-$52,907
VFW Post 6027	$25,000	-$52,907
Jaderoq, LLC	$25,000	-$52,907
MJ Bar Realty, LLC	$25,000	-$52,907
DC Electric, Inc.	$25,000	-$52,907
Daniller-Evans Realty Group	$25,000	-$52,907
Fitness 4 Folks 2, LLC	$25,000	-$52,907
Thinkfast, LLC	$25,000	-$52,907
Koncrete Rose Cultivation, LLC	$25,000	-$52,907
Percival Mechanical Services, Inc.	$25,000	-$52,907
Gidmor Import & Export, Inc.	$25,000	-$52,907
P Riggins & Riggins Services, LLC	$25,000	-$52,907
Maryland Hydrographics and Powder Coating	$25,000	-$52,907
Maryland Hydrographics and Powder Coating	$25,000	-$52,907
Johwan J Doh PA, D.D.S.	$25,000	-$52,907
Feet First Sports, Inc.	$25,000	-$52,907
Shah, Inc.	$25,000	-$52,907
Tidewater Gymnastics Center, LLC	$25,000	-$52,907
R E on the Bay, LLC	$25,000	-$52,907
Carla Viviano Team, LLC	$25,000	-$52,907
Arain A. Waseem PA, M.D.	$25,000	-$52,907
Ceepco Contracting	$25,000	-$52,907
Advanced Aesthetics, LLC	$25,000	-$52,907
Advanced Aesthetics, LLC	$25,000	-$52,907
Shahnaz K Rao PA, M.D.	$25,000	-$52,907
Stafford Transport, LLC	$25,000	-$52,907
Bolus Med Spa	$25,000	-$52,907
50 East, LLC	$25,000	-$52,907
Zara, LLC	$25,000	-$52,907
Aj and Aj Corporation	$25,000	-$52,907
Alex Stefan Group, Inc.	$25,000	-$52,907
PMC Management Consulting, LLC	$25,000	-$52,907
Syriana, Inc.	$25,000	-$52,907
Exampro	$25,000	-$52,907
Signature Marketing Services, Inc.	$25,000	-$52,907
FX Delivery, LLC	$25,000	-$52,907
Rednium World, LLC	$25,000	-$52,907
Everest Business Solutions, Inc.	$25,000	-$52,907
Mcguire Moore, LLC	$25,000	-$52,907
Balkuber, LLC	$25,000	-$52,907
Gloria Dei Lutheran Church	$25,000	-$52,907
Gloria Dei Lutheran Church	$25,000	-$52,907
Gloria Dei Lutheran Church	$25,000	-$52,907
Gloria Dei Lutheran Church	$25,000	-$52,907
Gloria Dei Lutheran Church	$25,000	-$52,907
Sun Global Media USA Limited	$25,000	-$52,907
Ci Food Services, Inc.	$25,000	-$52,907
Newport Builders	$25,000	-$52,907
Re Max Solutions	$25,000	-$52,907
Sandmarks Marketing, LLC	$25,000	-$52,907
Quality First Contractor	$25,000	-$52,907
Posh Beauty Loft	$25,000	-$52,907
Mathew's Grill, Inc.	$25,000	-$52,907
Oak Creek Events, LLC	$25,000	-$52,907
J&J Electric	$25,000	-$52,907
Claires Day Care Center	$25,000	-$52,907
O'Malley Sheet Metal, Inc.	$25,000	-$52,907
Secureside, LLC	$25,000	-$52,907
Russell Group, LLC	$25,000	-$52,907
Russell Group, LLC	$25,000	-$52,907
Russell Group, LLC	$25,000	-$52,907
Paul Bloomberg P. A.	$25,000	-$52,907
Robyn Mcgrew P a	$25,000	-$52,907
Kurzmann's Auto Brokerage	$25,000	-$52,907
The Leon Group, Inc.	$25,000	-$52,907
Quality One Management, Inc.	$25,000	-$52,907
J Frank, LLC	$25,000	-$52,907
J Frank, LLC	$25,000	-$52,907
Gregory C Carson PA, D.M.D.	$25,000	-$52,907
Cactus SKY Digital, Inc.	$25,000	-$52,907
SK Homes, LLC	$25,000	-$52,907
Padmja, LLC	$25,000	-$52,907
Imagine Nations E. L. C., LLC	$25,000	-$52,907
Triantis & Associates, Inc.	$25,000	-$52,907
AA Long Xin Corporation	$25,000	-$52,907
Solution Finders Realty, LLC	$25,000	-$52,907
Project Ezra of Greater Baltimore, Inc.	$25,000	-$52,907
Yanlin, LLC	$25,000	-$52,907
George P Kazmarek Insurance Agency, Inc.	$25,000	-$52,907
A. M. Insulation, LLC	$25,000	-$52,907
Blue Thunder, Inc.	$25,000	-$52,907
Chiro One of Elkton	$25,000	-$52,907
Northern Hospitality Service, LLC	$25,000	-$52,907
Franklin Ragan Jr., LLC	$25,000	-$52,907
Inspiragen Institute, LLC	$25,000	-$52,907
Wymed Solutions, LLC	$25,000	-$52,907
Town Center Chiropractic of Columbia, P.C.	$25,000	-$52,907
Weber, LLC	$25,000	-$52,907
Pauls Repairs, Inc.	$25,000	-$52,907
Cromwell Enterprises, Inc.	$25,000	-$52,907
Withers Comedy	$25,000	-$52,907
Forghani PA, D.D.S.	$25,000	-$52,907
Yamasaki Academy, LLC	$25,000	-$52,907