Kentland Bank pays out $150,000-350,000 in PPP loans during June

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Kentland Bank paid out $150,000-350,000 in Paycheck Protection Program loans during June, according to the US Treasury Department. There were 52 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
LendersTotal dollars loaned
First National Bank$1-2 million
Lake City Bank$1.15-2.35 million
1st Source Bank$1-2 million
Centier Bank$1.35-3 million
Old National Bank$500,000-1.35 million
German American Bank$500,000-1.35 million
First Merchants Bank$500,000-1.35 million
First Financial Bank$350,000-1 million
The Bippus State Bank$500,000-1.35 million
Home Bank, SB$150,000-350,000
Three Rivers FCU$150,000-350,000
STAR Financial Bank$150,000-350,000
Teachers CU$150,000-350,000
immito, LLC$150,000-350,000
Horizon Bank$150,000-350,000
Indiana Members CU$150,000-350,000
Jackson County Bank$150,000-350,000
Kentland Bank$150,000-350,000
Greenfield Banking Company$150,000-350,000
Centra CU$150,000-350,000
Tri-County Bank & Trust Company$150,000-350,000
First Robinson Savings Bank, National Association$150,000-350,000

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