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  • Small Business COVID-19 Disaster Loans Available in Indiana

     

    Email received from the U.S. Small Business Administration, Indiana District Office

    SBA Economic Injury Disaster Loans now open for Indiana Small Businesses

    Thanks to a concerted effort by our partners throughout the state, Indiana small businesses can now apply for SBA Economic Injury Disaster Loans (EIDL).

     

    What's an EIDL?

    • The SBA EIDL program can provide low-interest loans of up to $2M to businesses and private non-profits.
    • EIDLs may be used to pay fixed debts, payroll, accounts payable and other bills. 
    • The interest rate is 3.75% for small businesses without credit available elsewhere. The interest rate for non-profits is 2.75%.
    • EIDLs have long-term repayment options, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based on borrower's ability to repay.

    How do I apply?

    What's next?

     

    For detailed information on SBA programs for the coronavirus, visit www.sba.gov/coronavirus and for information on all federal programs, visit www.usa.gov/coronavirus or www.gobierno.usa.gov/coronavirus (en Español)

     

     

     
     
  • Updated Info

    SBA Economic Injury Disaster Loan (EIDL) Online App

    The SBA is working diligently to meet customer demand for the SBA Economic Injury Disaster Loan (EIDL) program and make the process as user-friendly and easy as possible.

    As we make changes, we will have update periods where things will be in flux.

    While this is happening now, we still want to make sure you have a way to fill out and submit your application.

    Details to apply now

     If you are having issues accessing the website, try clearing your browsing data/cache.

     As things are improved, we will update you accordingly with the new information.

     Thank you for your patience.

    SBA Express Disaster Bridge Loans are now available

    The SBA Express Bridge Loan (EBL) program allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 with less paperwork. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loans or used to bridge the gap while applying for a direct SBA Economic Injury Disaster loan. If a small business has an urgent need for cash while waiting for decision and disbursement on Economic Injury Disaster Loan, they may qualify for an SBA Express Disaster Bridge Loan.

    Terms

    • Up to $25,000
    • Fast turnaround
    • Will be repaid in full or in part by proceeds from the EIDL loan

    For more information, contact your current lending institution.

    COVID-19: Guidance for Small Businesses  sba.gov/coronavirus

    SBA Resources

    For no-cost, one-on-one virtual or telephone business advice regarding COVID-19 and other matters find an SBA Resource Partners near you at www.SBA.gov/local-assistance

    For detailed information on SBA programs for the Coronavirus, visit www.sba.gov/coronavirus

    For information on all federal programs, visit www.usa.gov/coronavirus or www.gobierno.usa.gov/espanol (en Español)

    Other Resources--online and by phone

    IN.gov has excellent state-specific guidance and resources listed under several agencies including Indiana's Department of Health, Department of Workforce Development, and Department of Homeland Security.

    The U.S. Department of Labor has resources to help workers and employers prepare for the COVID-19 virus, including use of Family Medical Leave

    The Indy Chamber has created an online Rapid Response Hub featuring a great FAQ section with up to date info on resources for employers and employees from private and non-profit organizations.

    What's next?

    If this update was forwarded to you, sign up for our emails: sba.gov/updates.

    Follow us on Twitter @SBA_Indiana

    For detailed information on SBA programs for the coronavirus, visit www.sba.gov/coronavirus and for information on all federal programs, visit www.usa.gov/coronavirus or www.gobierno.usa.gov/coronavirus (en Español)

    SBA Indiana District Office

    317-226-7272

    sba.gov/in

    All SBA programs and services are provided on a nondiscriminatory basis. Reasonable accommodations will be made if requested at least two weeks in advance

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    U.S Chamber Resources

    "Coronavirus: 8 Things Your Small Business Needs to Do"

     

    Coronavirus Emergency Loans: Small Business Guide and Checklist

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    Indy Chamber's Rapid Response Hub for Small Businesses 

    https://www.response.indychamber.com/

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    Advertising for Restaurants

    Yelp announced $25 million in relief, primarily focused on supporting independent local restaurant and nightlife businesses, in the form of waived advertising fees, and free advertising, products and services, during this period.

    https://blog.yelp.com/2020/03/yelp-covid-19-response-and-support-for-local-businesses

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    Other

    Indiana Small Business Development Centers

    https://isbdc.org/indianacovid19smallbusiness/

    United Way Community CoVid-19 Relief Fund

    https://uwci.org/covid-19-cerf-indiana/

    IRS Relief for Tax Payers Affected by CoVid-19

    https://www.irs.gov/pub/irs-drop/n-20-18.pdf

    https://calendar.in.gov/site/dor/event/dor-announces-filing-and-payment-extensions

    Resources for Businesses and Employers (Centers for Disease Control and Prevention)

    100M Facebook Grant to Help Small Businesses, click here to learn more

    Families First Bill 

    https://www.congress.gov/bill/116th-congress/house-bill/6201

     
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