Home Bank, SB pays out 150,000 - 350,000 in PPP loans during week of July 5

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Home Bank, SB paid out 150,000 to 350,000 in Paycheck Protection Program loans during the week of July 5, according to the US Treasury Department. There were 18 lending institutions that took part in the program in Indiana, with 55.2 percent lending out between $150,000-350,000 during the month.

There are approximately five million approved PPP loans with a total of $517,451,965,102 set aside for funding, according to the Small Business Administration. The average loan size was around $105,000 with over 5,000 lenders currently participating in the program.

The program was slow to get off the ground when it was crushed by an onslaught of would-be applicants. Another major criticism of the program pertained to who was receiving the loans. A program that was meant for small businesses witnessed the Los Angeles Lakers receive $4.6 million from the program. The Lakers qualified for the program under the rules as written but returned the funds according to a Laker’s statement provided to news outlets.

Data used for analysis only included loans over $150,000.

PPP lenders in Indiana during week of July 5
LendersTotal dollars loaned
Centier Bank350,000 - $1M
Old National Bank350,000 - $1M
Home Bank, SB150,000 - 350,000
Crossroads Bank150,000 - 350,000
immito, LLC150,000 - 350,000
German American Bank150,000 - 350,000
The Bippus State Bank150,000 - 350,000
Lake City Bank150,000 - 350,000

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