Indiana lenders had secured a total of $9.5 billion in Paycheck Protection Program loans for their borrowers as of Saturday, according to the Small Business Administration.
A state-by-state Washington Post analysis of SBA spending found drastic variation in loan receipts, highlighting how the current effort to bolster the economy with federal funds could contribute to stark inequalities in how wealth is distributed across the United States.
Eight Indiana-based public companies have disclosed that they qualified for more than $61 million in relief loans from a federal program designed to help small businesses.
Banking industry groups say the volume of applications already sent to the Small Business Administration makes it likely that much, if not all, the new money will go to those already in the queue.
Nearly $350 billion in forgivable federally backed loans could be a lifeline for small businesses and their employees amid the COVID-19 outbreak.
The low-interest loans of up to $2 million are designed to provide working capital to Indiana businesses struggling to make it because of the COVID-19 outbreak.
According to the Congressional Budget Office, the five-week closure cost the economy $11 billion, and $18 billion in federal spending was delayed.
Indiana businesses borrowed $424.7 million through U.S. Small Business Administration programs in 2012, an 18-percent decline from 2011, latest SBA statistics show.
The Indiana Statewide Certified Development Corp. has been recognized as the most robust lender through the SBA’s 504 loan program.
Unusual home on south side has a dozen bedrooms for folks who need to give up their own homes.
The amount of money banks loaned through U.S. Small Business Administration programs shot up close to 30 percent in Indiana this year, a sign that the state’s small businesses—including Pat Wolfred’s CCA Inc.—have started coming back to life.
The U.S. Senate recently confirmed her appointment to the No. 2 job.
No incentive can make a bad deal bankable. But President Obama’s stimulus measures are spurring some promising small businesses
to begin borrowing again, despite the recession.