I-Team 8 breaks down Paycheck Protection Program loan funds allocated to Indiana companies

INDIANAPOLIS (WISH) — I-Team 8 has a new, in-depth look at some of the Indiana companies that have received Paycheck Protection Program loans from the federal government during the coronavirus pandemic.

The Small Business Administration released the data Monday after promising it for several weeks.

The data names the 11,853 companies and organizations in Indiana that got more than $150,000 each. They claim the loans helped save 598,595 jobs in Indiana. Most of the companies, almost 2,495, that received large loans were in Indianapolis. Nonprofits made up fewer than 800 of the Indiana companies in the state that got large loans.

Excluded from the data were companies that received less than $150,000. In total, 77,872 companies or organizations in Indiana received loans of any size from the PPP, totaling $9,457,392,872 in funds.

The government’s data does not disclose how much each company received but did break down the funds into tiers:

• 95 companies got from $5 million-$10 million.
• 498 got from $2 million-$5 million.
• 1,005 got from $1 million-$2 million.
• More than 10,000 of the nearly 12,000 companies got less than $1 million.
• Another 67,000 received loans under $150,000 (though the names of those businesses were not released by the SBA).

One business not on the list is Escalade Inc. in southwestern Indiana. The company returned its $5.6 million loan after I-Team 8 reported on the publicly traded company. Federal officials had criticized publicly traded companies for taking money they intended to go to small businesses.