The Paycheck Protection Program (PPP) provides loans to small businesses affected by the COVID-19 pandemic. Companies with less than 500 employees, sole-proprietorships, independent contractors or self-employed individuals may qualify for these loans, according to Harvard Business School.
A report on the program analyzed by the Peter G. Peterson Foundation found the “distribution of loans across sectors didn’t mirror the distribution of job losses.” It showed restaurants and food service businesses did not receive many loans, despite suffering the highest level of job losses.
A preliminary analysis from the National Bureau of Economic Research suggests the areas most affected by economic disruption did not receive the most loans.
The Paycheck Protection Program ended on May 31, 2021. Existing borrowers may be eligible for loan forgiveness at the discretion of the lender.
Top 100 largest PPP loans in 2020 in ZIP Code 47362
| Name of Borrower | Current Approved Amount |
|---|---|
| Heritage House Group, LLC | $1,927,300 |
| New Castle Stainless Plate, LLC | $1,837,500 |
| Walnut Ridge Family Trailer Sales, Inc. | $864,173 |
| Conway Communications, Inc. | $715,705 |
| Bethany Cares, Inc. | $666,100 |
| Magna Machine & Tool Company, Inc. | $576,700 |
| Henry County Rural Electric Membership Corporation | $574,700 |
| HRH Automotive, LLC | $497,977 |
| The Waters of New Castle II, LLC | $377,014 |
| Clark Farm Drainage, Inc. | $189,700 |
| Miers Excavating & Demolition, Inc. | $183,486 |
| Hudson Tool Rental of New Castle, Inc. | $183,400 |
| KVK U. S. Technologies, Inc. | $174,100 |
| Western Products of Indiana, Inc. | $163,600 |
| Anchor Home, Inc. | $160,900 |
| Myers Appliance, Inc. | $151,852 |
| Knightstown Dental, P.C. | $136,000 |
| Signal Health Management, Inc. | $133,803 |
| New Castle Wings, LLC | $131,785 |
| Wimmer Manufacturing, Inc. | $127,200 |
| Mcgowan Benefit Group, LLC | $124,800 |
| Hinsey-Brown Funeral Service, Inc. | $123,700 |
| Raintree Friends Housing, Inc. | $116,000 |
| Henry County Ymca | $115,600 |
| Country Acre Animal Clinic | $115,500 |
| RBCG, LLC | $115,500 |
| Los Amigos | $115,300 |
| Pro Green Maintenance Group | $112,809 |
| David a. Dickey PC, D.D.S. | $110,800 |
| Ace Hardware | $106,600 |
| Victory Range + Armory, Inc. | $99,057 |
| M. L. Taylor Construction, Inc. | $98,000 |
| Debruhl Construction, LLC | $92,800 |
| Pritchett's Backhoe Service, LLC | $89,855 |
| Shoreline Asset Management, LLC | $89,400 |
| New River, Inc. | $88,400 |
| MRS Group, Inc. | $87,500 |
| Broyles Plumbing Heating & Cooling, Inc. | $87,301 |
| MSN, Inc. | $87,200 |
| Victory Lane Children's Rehab | $86,639 |
| Parkview Family Dentistry, P.C. | $85,600 |
| Raintree Dental, P.C. | $81,503 |
| Dennis Equipment, Inc. | $76,900 |
| Eda Food Service, Inc. | $75,400 |
| Spectra Management | $73,148 |
| Triple J Plumbing, LLC | $72,000 |
| Mud Med, LLC | $70,900 |
| Ross Lawn and Landscaping, LLC | $70,700 |
| Equipment & Contents Specialists, Inc. | $67,200 |
| Remembrance Holdings, LLC | $62,500 |
| Jon-Del, LLC | $62,300 |
| Lamberson & Malott Eye Center, P.C. | $59,700 |
| Atlas Collections | $59,600 |
| New Castle Glass & Mirror, LLC | $59,500 |
| KCL Group, Inc. | $59,400 |
| Shore & Company, PC | $58,900 |
| Hairitage Style Forum, Inc. | $57,500 |
| Henry County Glass and Mirror, Incorporated | $57,000 |
| Marcum Industries, LLC | $54,200 |
| SBK Construction, LLC | $53,500 |
| R E Neal, LLC | $52,400 |
| IND Basketball Hall of Fame | $52,000 |
| Cash Transport, LLC | $51,700 |
| Rust Townsend Home Appliance Center | $51,600 |
| Central Indiana Hydroseeding, LLC | $51,500 |
| Doug Meier Insurance Agency, Inc. | $51,400 |
| Heartland Christian School, Inc. | $49,600 |
| Mancinos of New Castle, Inc. | $48,300 |
| Subway11318, Inc. | $46,300 |
| Henry County Humane Society, Inc. | $46,000 |
| Kane Loveridge Psychological Services, LLC | $45,900 |
| Anderson Systems, Inc. | $45,574 |
| First Church of the Nazarene New Castle | $44,300 |
| Rose City Bowl Incorporated | $44,200 |
| Weenee World | $44,000 |
| Braun Companies, LLC | $42,700 |
| Royal Machining and Repair, LLC | $42,200 |
| Blue River Technologies | $41,500 |
| Regal Roofing & Contractors, LLC | $40,700 |
| Preferred Footcare of Muncie, LLC | $39,700 |
| Miers Transport, Inc. | $39,005 |
| Turning Point Life Center, Inc. | $37,163 |
| Margison Graphics, LLC | $36,300 |
| Right Way Pharmacy, Inc. | $36,200 |
| Huffman Family Chiropractic, Inc. | $35,400 |
| Bonner Enterprises, Inc. | $33,500 |
| Sproles Family Funeral Home | $33,100 |
| The Pizza Guy, Inc. | $32,800 |
| Memorial Park Golf Course, Inc. | $31,800 |
| Cafe' Royal Coffee House, LLC | $31,500 |
| Gardner Rodgers & Associates, LLC | $31,000 |
| Eastern Indiana Heating & Cooling, Inc. | $31,000 |
| Cardinal Home Medical, LLC | $30,877 |
| Clouse Concrete Construction, Inc. | $30,600 |
| John Jason Masters | $30,200 |
| Vital Computing, LLC | $29,335 |
| Four Square Gospel Church | $28,400 |
| Bob John Realty, Inc. | $27,600 |
| First United Methodist Church | $27,100 |
| Donald Lynn Perdue | $26,507 |
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