Now Accepting Small Business Loan Applications

A special message from Senator Todd Young, April 6, 2020

Coronavirus – Small Business Loan Applications:  
Friday was the first day small businesses could apply for loans under the Paycheck Protection Program made available from the CARES Act. The Payment Protection Program will support Hoosier employers and workers by authorizing loans for small businesses to utilize for job retention and other expenses. As of April 5, 124,000 loans have been processed totaling $36 billion through the Paycheck Protection Program. To learn more about the program and who is eligible, click here or here.

Hoosiers can also visit young.senate.gov/coronavirus or email COVID_19@young.senate.gov for additional assistance.

Constituent Spotlight:
Brothers Bradley McHugh and Bruce Merrill from Indianapolis are using their 3D printers to make face shields for hospital workers and first responders. 

It is inspiring seeing Hoosiers like McHugh and Merrill stepping up to help their communities as we navigate this public health emergency. Learn more about their story in the Indy Star’s article: “Brothers turn 3D printers into protective mask producers: ‘We just want to do our part’

Legislative Update:

Support for Farmers During Coronavirus Pandemic
This weekend I joined a bipartisan group of Senators on a letter to the Secretary of Agriculture urging the Administration to ensure the continuity of our country’s food supply and to support rural areas during the coronavirus pandemic by providing needed relief to farmers. Americans always depend on our nation’s farmers to grow the food, fuel, and fiber that we all need, but that reliance becomes much more pronounced in times of crisis. Learn more about my letter here in WSBT’s coverage. 

Protecting Seniors from Coronavirus Scams
At this time of heightened public fears, reports have highlighted that scams pertaining to the coronavirus are increasing, and that seniors—arguably the most vulnerable population to both the coronavirus and bad actors—have been targeted with calls telling them that the COVID-19 vaccination is ready when no such treatment currently exists.

Other reports have outlined how scammers have gone to the homes of elderly people to administer fake tests while also charging them and obtaining their social security numbers.  Although the FTC has sent warning letters to seven sellers of fraudulent COVID-19 treatments, we are concerned that further action is needed to protect the financial wellbeing of seniors—who lose an estimated $3 billion annually from financial scams.

This is why I joined a group of senators urging the Federal Trade Commission (FTC) to protect seniors from coronavirus-related scams and to assist victims in understanding their recourse options against those attempting to financially exploit them during this pandemic.