PPP Loan Data: Indiana
Paycheck Protection Program statistics for Indiana. 168,742 loans disbursed, 7,087 unforgiven and potentially subject to enforcement.
Standard Enforcement Risk1.5% of national total
Avg: $92,449 per loan
$655M outstanding
95.8% forgiveness rate
PPP Program Overview: Indiana
Between April 2020 and May 2021, the U.S. Small Business Administration disbursed 168,742 Paycheck Protection Program loans in Indiana, totaling $15.6B. These loans supported approximately 1.4M jobs across the state during the COVID-19 pandemic.
Of these loans, 161,655 (95.8%) were fully forgiven. However, 7,087 loans totaling $655M remain unforgiven and are potentially subject to SBA collection, Treasury offset, or DOJ enforcement action.
This state has standard-level PPP enforcement activity.
Enforcement Risk in Indiana
Indiana has standard-level PPP enforcement activity. While enforcement is less concentrated here than in major metropolitan states, the DOJ PPP Strike Force operates nationally. Any borrower with an unforgiven loan or application discrepancies remains at risk regardless of geographic location.
The False Claims Act statute of limitations extends through 2030-2031 for PPP loans. This means new enforcement actions can still be initiated against Indiana borrowers for several more years. The 7,087 unforgiven loans in Indiana represent the most immediate enforcement targets.
Indiana vs. National Average
Frequently Asked Questions: PPP in Indiana
How many PPP loans were issued in Indiana?
Indiana received 168,742 PPP loans totaling $15.6B between April 2020 and May 2021. The average loan size was $92,449, supporting approximately 1.4M jobs.
How many PPP loans in Indiana were not forgiven?
Approximately 7,087 PPP loans in Indiana (4.2% of total) were not forgiven, representing $655M in outstanding obligations. These borrowers may face Treasury collection actions or SBA enforcement.
What is the PPP audit risk level in Indiana?
Indiana is classified as "Standard" enforcement risk. This state has standard-level PPP enforcement activity. Borrowers in Indiana with unforgiven loans or discrepancies in their applications should be aware of ongoing DOJ and SBA OIG enforcement activity.
Can I still face a PPP audit in Indiana in 2026?
Yes. The False Claims Act has a 6-10 year statute of limitations. Since PPP loans were issued in 2020-2021, enforcement actions can continue through 2030-2031. Indiana borrowers remain at risk regardless of whether their loan was forgiven.
Are You at Risk?
7,087 Indiana borrowers have unforgiven PPP loans. Find out your specific risk level in under 3 minutes.
Defense Resources
Other States
Data Sources: U.S. Small Business Administration PPP Data Reports, PandemicOversight.gov, U.S. Treasury Department. Data reflects the full PPP program period (April 2020 – May 2021). Last updated May 2026.