Indiana banks OK $7.5 billion in Paycheck Protection loans
The banks approved 35,990 individual loans for companies and organizations in Indiana before the program ran out of money.
The banks approved 35,990 individual loans for companies and organizations in Indiana before the program ran out of money.
But an administrator of energy-assistance programs says the funding “only scratches the surface” of what’s needed.
Sanders planned to talk to his supporters later Wednesday.
Banks say they’re seeing overwhelming demand for Paycheck Protection Program coronavirus relief loans, and the Small Business Administration’s website is getting bogged down when they attempt to submit loan applications.
Nearly $350 billion in forgivable federally backed loans could be a lifeline for small businesses and their employees amid the COVID-19 outbreak.
More than 40% of Hoosiers have already filled out the 2020 Census, but concerns remain about getting the rest of the state to respond during a public health crisis.
Perhaps $1 billion will have to be spent from the state’s $2.3 billion in cash reserves to get through the budget year that ends June 30, Gov. Eric Holcomb said Friday.
State and federal authorities have expanded the eligibility for unemployment benefits significantly, meaning if you’re out of work and didn’t qualify under the old rules, you likely will now.
Libertarian Rep. Thomas Massie, R-Ky., was threatening to slow action by demanding a roll call vote. That would force many lawmakers to make the journey to Washington, D.C., to cast a vote on legislation that is certain to pass anyway.
The House is set to pass the sprawling, $2.2 trillion measure Friday morning after an extraordinary 96-0 Senate vote late Wednesday. President Donald Trump marveled at the unanimity Thursday and is eager to sign the package into law.
The bill would extend $1,200 to most American adults and $500 for most children, create a $500 billion lending program for businesses, cities and states, and a $367 billion employee retention fund for small businesses.
The urgently needed pandemic response measure is the largest economic rescue measure in history and is intended as a weeks- or months-long patch for an economy spiraling into recession and a nation facing a potentially ghastly toll.
Ravaged in recent days, the stock market climbed significantly Tuesday morning as negotiators signaled a resolution was in sight. The Dow Jones industrial average was up nearly 9% at noon.
Top congressional and White House officials emerged from grueling negotiations at the Capitol over the $2 trillion coronavirus rescue package saying they expected to reach a deal Tuesday.
The Federal Reserve did what it could to help financial markets and the economy Monday. But investors are still waiting for Congress and the White House to do the same.
The central bank’s all-out effort has now gone beyond even the extraordinary drive it made to rescue the economy from the 2008 financial crisis. Financial markets sharply reversed themselves after the announcement.
Top-level negotiations between Congress and the White House churned into the night Sunday over a now nearly $2 trillion economic rescue package. The draft aid bill was declared insufficient by Democrats, who argued it was tilted toward corporations.
The delay, announced Friday morning, is available to people who owe $1 million or less and corporations that owe $10 million or less.
The centerpiece of the Senate GOP plan would be hundreds of billions of dollars sent to Americans in the form of checks as a way to flood the country with money in an effort to blunt the dramatic pullback of spending.
Details on President Trump’s economic rescue plan are still being worked out, but its centerpiece is to dedicate $500 billion to direct payments to Americans, starting early next month.