Judge upholds PPP bankruptcy ban against Annapolis firm

The U.S. Small Business Administration lawfully rejected Tradeways Ltd.’s request for a paycheck protection loan because the Annapolis-based defense company’s owner is seeking bankruptcy protection, a federal judge ruled Wednesday. U.S. District Judge Ellen L. Hollander called the SBA’s prohibition on Paycheck Protection Program loans to bankrupt entities a permissible regulation under the federal law that established the small-business safeguard amid the economic havoc wrought by the COVID-19 pandemic. (Daily Record)

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