43.4% of MD total
Avg: $107,857 per loan
$482M outstanding
93.4% forgiveness rate
PPP Program Overview: Baltimore, MD
Between April 2020 and May 2021, the U.S. Small Business Administration disbursed approximately 73,244 Paycheck Protection Program loans in the Baltimore metropolitan area, totaling $7.9B. These loans supported approximately 642K jobs in the local economy during the COVID-19 pandemic.
Of these loans, 68,409 (93.4%) were fully forgiven. However, 4,835 loans totaling $482M remain unforgiven and are potentially subject to SBA collection, Treasury offset, or DOJ enforcement action.
Baltimore is part of Maryland, which has a High enforcement risk classification. The DOJ PPP Strike Force operates nationally, with particular focus on major metropolitan areas where loan volumes and dollar amounts are highest.
Enforcement Risk in Baltimore
Baltimore is in a high-priority enforcement area. Major metro areas with high loan volumes and large average loan sizes attract concentrated DOJ and SBA OIG attention. Multiple qui tam (whistleblower) cases have been filed in federal courts covering the Baltimore area, and the SBA OIG maintains active field offices in the region.
The False Claims Act statute of limitations extends through 2030-2031 for PPP loans. This means new enforcement actions can still be initiated against Baltimore borrowers for several more years.
Baltimore vs. Maryland Average
Frequently Asked Questions: PPP in Baltimore
How many PPP loans were issued in Baltimore, MD?
Baltimore, Maryland received approximately 73,244 PPP loans totaling $7.9B between April 2020 and May 2021. The average loan size was $107,857, supporting approximately 642K jobs in the Baltimore metro area.
How many PPP loans in Baltimore were not forgiven?
Approximately 4,835 PPP loans in the Baltimore metro area (6.6% of total) were not forgiven, representing $482M in outstanding obligations. These borrowers may face Treasury collection actions or SBA enforcement.
What is the PPP enforcement risk in Baltimore?
Baltimore is in a "High" enforcement risk area. The DOJ PPP Strike Force and SBA OIG maintain active investigations in major metro areas. Borrowers in Baltimore with unforgiven loans or application discrepancies should be aware of ongoing enforcement activity through 2030-2031.
Can I still face a PPP audit in Baltimore in 2026?
Yes. The False Claims Act has a 6-10 year statute of limitations. Since PPP loans were issued in 2020-2021, enforcement actions can continue through 2030-2031. Baltimore borrowers remain at risk regardless of whether their loan was forgiven.
Are You at Risk?
4,835 Baltimore area borrowers have unforgiven PPP loans. Find out your specific risk level in under 3 minutes.
Other Cities in Maryland
View all Maryland data →Data Sources: U.S. Small Business Administration PPP Data Reports, PandemicOversight.gov, U.S. Treasury Department. Metro-area estimates derived from state-level data with population-weighted distribution. Last updated May 2026.