By: Senator Todd Young Press Office—
Washington– U.S. Senator Todd Young (R-Ind.) recently spoke about the ongoing response to the coronavirus pandemic and highlighted several Paycheck Protection Program success stories in Indiana. To date, Indiana has received nearly $10 billion in Paycheck Protection Program loans.
“Over the last six weeks, I’ve had the opportunity to connect to roughly 22,000 Hoosiers. This of course is an anxious time, this is a time when people want their public officials to be accessible, and we’ve listened – we’ve done a lot of listening, a lot of information sharing. The thing I’ve most consistently heard from people is that the Paycheck Protection Program was the right program at the right time. And I know we will have important conversations in coming days and weeks about our next steps here in Washington. But we know in the state of Indiana this program has worked,” said Senator Young.
Senator Young highlighted several specific Indiana recipients of Paycheck Protection Program loans, including:
—Troyer Products, a manufacturing company, located in Elkhart, was able to keep 21 employees on their payroll thanks to a PPP loan.
—Families First, an Indianapolis non-profit that provides mental health counseling, education, crisis intervention, received a PPP loan.
—A medical device distributor in Valparaiso had its sales fall 90 percent when elective surgeries were suspended. PPP helped them keep all 23 employees on the payroll.
—A financial services firm in Indianapolis with 80 employees went forward with their plans to hire eight college graduates thanks to the assurance they had with PPP.
—Immanuel Lutheran Church in Seymour received a PPP loan that enabled them to keep their church staff, as well as the staff for the church-run daycare.
—A business in Noblesville that employs eight people changed hands after the February 15 cutoff date and was denied a PPP loan. The SBA issued new guidance that resolved the issue.
Watch Senator Young’s remarks below.