Paycheck Protection Program loans were created through the CARES Act to allow small businesses to pay employees during the pandemic shutdown. PPP loans are forgivable if the majority of the funds are used for payroll. To date, in Indiana more than 73,000 PPP loans have been granted, providing $9.4 billion in support to Indiana small businesses. These loans have saved countless jobs for Hoosiers throughout the state.
If you are a small business owner and have not applied for a PPP loan, please do so through a participating financial institution while funds remain. The following member banks of the Indiana Bankers Association are currently accepting applications for PPP loans as of May 29, 2020. Please note that there may be other banks participating that are currently not on the list. If you do not see your bank listed, please contact your institution to determine whether it is still accepting applications.
The Paycheck Protection Program ends June 30, 2020, or sooner if funds run out.