In response to the disruption to businesses from the coronavirus, we want to be able to provide resources to help small business owners during this time. If we can be of a resource, please do not hesitate to reach out and contact IBA with your questions about the impact of this current economic state and the businesses we represent.


Paycheck Protection Program

The Paycheck Protection Program (PPP) is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. Loans can be for up to two months of your average monthly payroll costs from the last year plus an additional 25% of that amount. SBA will forgive the loan if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. At least 75% of the forgiven amount must have been used for payroll. Speak to your current lender about applying for PPP or use the SBA eligible lender search tool to be connected to an eligible SBA lender.

Economic Injury Disaster Loans

The U.S. Small Business Administration (SBA) is currently accepting applications for Economic Injury Disaster Loan (EIDL) assistance. Applications can be submitted at These loans up to $2 million may be used by small businesses as well as private nonprofits to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact.

Small businesses that apply for EIDL are eligible to be considered for a loan advance up to $10,000 while waiting for their application to be processed. Notably, this loan advance will not have to be repaid whether you are approved for EIDL or not.

Express Bridge Loans

The Express Bridge loan program allows SBA Express lenders to provide expedited financing to small businesses located in declared disaster areas. Moreover, Express Bridge loans are intended to be interim loans. Businesses use these funds for disaster-related purposes while they apply for and await long-term financing. Speak with your current lender or use Lender Match below to find a participating lender.

Loan Comparison Chart

A loan comparison chart of the programs mentioned above is available for download here.

Additional Funding Resources

Talk to your current lender or community bank. If they are an SBA-approved lender then they have access to additional SBA loans that you may qualify for.

Many local organizations are offering assistance to small businesses located within their region. Please contact your local Chamber of Commerce or Economic Development Organization to see if programs are available.

The Indiana SBDC is maintaining a list of additional loan and grant resources here. In addition, this list will be updated as we become aware of additional resources. Reference in the document to any specific product, process, or service, or the use of any trade, firm, or corporation name is for the information and convenience of the public and does not constitute an endorsement, recommendation, or favoring by the Indiana SBDC.

Counseling and Advising

To be connected to an Indiana SBDC business advisor, please visit our location page to find an office nearest you. For additional no-cost, one-on-one virtual or telephone business advice regarding COVID-19 find an SBA Resource Partners near you at


Gener8tor is hosting emergency one-week virtual programs for small businesses affected by the COVID-19 outbreak. These programs will feature daily webinars designed to identify, understand and help small businesses secure resources to withstand the current crisis. One-on-one office hours will also be available. Register here.

What should business owners focus on to survive the fallout from COVID-19? Here Greg Fisher, Ph.D., Larry & Barbara Sharpf Professor of Entrepreneurship, Indiana University, Kelley School of Business, discuss 8 critical areas of focus and action to help business owners.

Additional Resources

Indiana Stay at Home Order

Governor Holcomb has signed an executive order that Hoosiers remain in their homes except when they are at work or also for permitted activities, such as taking care of others, obtaining necessary supplies, and for health and safety. The order is in effect March 25 – April 7. The full executive order can be viewed here.

What is an essential business? Essential businesses and services include but are not limited to grocery stores, pharmacies, gas stations, police stations, fire stations, hospitals, doctor’s offices, health care facilities, garbage pickup, public transit, and public service hotlines such as SNAP and HIP 2.0. Moreover, a full list of essential businesses can be found in the executive order. To clarify, the Indiana Stay-at-Home Order FAQ can be found here.


The U.S. Department of Labor (DOL) has published guidelines for the Families First Corona Response Act (Emergency Paid Sick Leave and Emergency Family and Medical Leave). DOL has additional resources to help workers and employers prepare for the COVID-19 virus, including the use of Family Medical Leave. For information about unemployment insurance, please view the Indiana Department of Workforce Development’s FAQ here.


In Notice 2020-18, the Treasury Department and the Internal Revenue Service (IRS) announced special Federal income tax return filing and payment relief in response to the ongoing COVID-19 emergency. They have released an FAQ related to the relief provided in the Notice here.