Play Live Radio
Next Up:
0:00 0:00
Available On Air Stations

Federal COVID-19 Relief Money Slowly On Its Way To Businesses, Individuals

Lauren Chapman
IPB News


U.S. Sen. Todd Young (R-Ind.) says thousands of Indiana small businesses have been approved for disaster loans to help them survive the COVID-19 crisis.

Young says the U.S. Small Business Administration has approved nearly $6 billion in loans for Hoosier businesses, though the money hasn’t been distributed yet.

The senior Indiana senator says the SBA had to rapidly staff up to meet the increased demand for loans, which accounts for slow responsiveness in recent weeks.

“And as they do that, we’ve seen more banks participating, more credit unions, more online banks,” Young says.

READ MORE: Can I Go For A Walk? Here's What The Expanded 'Stay-At-Home' Order Really Does

LEE MAS: ¿Puedo Salir A Caminar? Esto Es Lo Que Significa Una Orden De Permanecer En Casa

Federal stimulus checks to individuals are starting to go out now, payments of $1,200 per person. But there are reports banks and private debt collectors will seize that money to pay off debts. Young opposes that.

“That’s inconsistent with where we’re taking public policy," Young says. "So, if there’s an opportunity for me in a legislative capacity to address this, I’ll look forward to working with those impacted stakeholders.”

Young says people getting the stimulus money via direct deposit should expect to see the payments within the next several days. He says paper checks will take a few more weeks to arrive.

Contact Brandon at or follow him on Twitter at @brandonjsmith5.

This is a rapidly evolving story, and we are working hard to bring you the most up-to-date information. However, we recommend checking the websites of the Centers for Disease Control and Prevention or the Indiana State Department of Health for the most recent numbers of COVID-19 cases.

Brandon Smith is excited to be working for public radio in Indiana. He has previously worked in public radio as a reporter and anchor in mid-Missouri for KBIA Radio out of Columbia. Prior to that, he worked for WSPY Radio in Plano, Illinois as a show host, reporter, producer and anchor. His first job in radio was in another state capitol, in Jefferson City, Missouri, as a reporter for three radio stations around Missouri. Brandon graduated from the University of Missouri-Columbia with a Bachelor of Journalism in 2010, with minors in political science and history. He was born and raised in Chicago.