There were 11 PPP loans issued in Indiana during the week ending June 14. The average loan size in the state was between $350,000 to 1 million.
There are approximately five million approved PPP loans with a total of $517,451,965,102 set aside for funding, according to the Small Business Administration. The average loan size was around $105,000 with over 5,000 lenders currently participating in the program.
The program was slow to get off the ground when it was crushed by an onslaught of would-be applicants. Another major criticism of the program pertained to who was receiving the loans. A program that was meant for small businesses witnessed the Los Angeles Lakers receive $4.6 million from the program. The Lakers qualified for the program under the rules as written but returned the funds according to a Laker’s statement provided to news outlets.
| Recipients | Date Received | Dollar Amount Received |
|---|---|---|
| Heart City Health Center, Inc. | 2020-06-08 | $1-2 million |
| Excell USA, Inc. | 2020-06-08 | $350,000-1 million |
| Strategic Solution Services, Inc. | 2020-06-08 | $350,000-1 million |
| Essenhaus, Inc. | 2020-06-09 | $1-2 million |
| Restaurant2, LLC | 2020-06-09 | $350,000-1 million |
| Willard Library of Evansville | 2020-06-10 | $150,000-350,000 |
| Morgan Enterprise Grounds Maintenance, Inc. | 2020-06-11 | $1-2 million |
| Salud Revenue Partners, LLC | 2020-06-11 | $350,000-1 million |
| Appraiservendor.com, LLC | 2020-06-11 | $150,000-350,000 |
| Century Pharmaceuticals, Inc. | 2020-06-12 | $150,000-350,000 |
| Dream Makers Investments, LLC | 2020-06-13 | $150,000-350,000 |
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