Restaurant owners want Congress to replenish the fund, and they want Indiana’s senators to sign on to a proposal that would provide cash to original applicants who were left high and dry.
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Business advisers and advocacy groups say many small businesses that have managed to survive the pandemic so far are heading into a brutal fall.
Read MoreIn total, the Small Business Administration made 41,638 awards to applicants that pursued that aid using computers believed to be located abroad, according to the agency’s inspector general.
A sentencing hearing is scheduled Thursday for BancServ Partners LLC founder Kerri Agee, who was found guilty on fraud and conspiracy charges in August.
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.
The Emerging Leaders program, managed by the Indiana SBA office, runs for seven months and targets entrepreneurs from historically challenged communities.
A division of the Indy Chamber is applying to become a U.S. Small Business Administration-affiliated microlender, a move aimed at boosting its available capital and expanding its territory in a wide-open frontier of finance.
More small businesses in Indiana are securing loans as owners learn to present their companies better and banks warm to small-business lending after years of hesitation.
Indiana has three certified, not-for-profit SBA microloan intermediaries, which not only make short-term microloans—as any lender can—but also use the SBA grants they receive to offer business coaching along with the financing.
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.
Volume nevertheless is expected to fall short of last year’s record numbers
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.
Federal loan programs that help fund company expansions are seeing more activity from program administrators in Indianapolis.
