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More than 23,000 Paycheck Protection Program loans approved in Indiana

More than 23,000 Paycheck Protection Program loans approved in Indiana

U.S. Senator Todd Young (R-Ind.), Governor Eric. J. Holcomb and State Health Commissioner Kristina Box met for a virtual media briefing on the federal response to the coronavirus today.

Senator Young shared the following updates on implementation of the CARES Act:

  • The Small Business Administration reports 23,583 Paycheck Protection Program loans have been approved in Indiana totaling just under $6 billion.
  • The first round of individual recovery rebate payments should begin hitting individual bank accounts this week for those with direct deposit information on file with the IRS.
  • Working in close consultation with the Governor’s Office, Senator Young has helped secure shipments of masks from China and Taiwan expected to arrive in the coming weeks.
  • The U.S. Department of Agriculture will be issuing guidance soon for Hoosier farmers to apply for financial support.
U.S. Senator Todd Young (R-Ind.), Governor Eric. J. Holcomb and State Health Commissioner Kristina Box discuss the CARES Act. (Submitted photo)

“At the state level, the Governor and his team have shown exceptional leadership. They’ve been in constant, regular, and clear communication with the people of Indiana. And the governor has allowed public health experts to strongly inform policy responses and I think that’s essential as we focus on keeping every Hoosier household safe and secure so that we can get on the back end of this virus as quickly as possible and return to some semblance of normalcy, which I know is their emphasis,” said Senator Young.

“Because Hoosiers have rightly had to social distance and shelter in place, our focus at the federal level is trying to make our households whole … We also recognize that for so many businesses it’s incredibly difficult, if not impossible, to do business when one is social distancing, so we wanted those businesses to be around at the back end of this and we also want to make our employers whole. We wanted to make sure that we take care of our healthcare workers as well. Those who are on the front lines of this fight and who are going to help us see the end of this fight ultimately,” Senator Young added.

The full press conference can be viewed HERE.

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