Small-Business Guidance During COVID-19 Pandemic
Small-Business COVID-19 Funding Timeline
- On March 27, 2020, the president signed the CARES Act into law, which provides $376 billion in financial relief for workers and small businesses across the U.S. Hoosier small businesses struggling from the impact of COVID-19 are eligible to apply for these federal disaster assistance resources through the Small Business Administration (SBA).
- On December 30, 2020, the president signed the Consolidated Appropriations Act of 2021 into law, providing an additional $325 billion in financial relief for small business funding.
- On March 11, 2021, the president signed the American Rescue Plan Act into law, which provided more relief for small businesses and hard-hit industries and added new efforts. View the full details
- Small Business Restart Grant: In April 2021, Indiana announced an expansion of the Indiana Small Business Restart Grant to help accelerate economic recovery activity by supporting Hoosier entrepreneurs and small businesses. The program provides working capital to eligible companies by reimbursing certain expenses incurred during and related to the global pandemic.
Find more small-business funding options and business resources by contacting your local Indiana Small Business Development Center.
SBA Funding Options
Through the CARES Act's funding, the SBA is now offering several new temporary programs, in addition to their traditional funding programs, to assist small businesses. These new programs include:
- Paycheck Protection Program (PPP): a loan that provides a direct incentive for small businesses to keep their workers on the payroll (PPP resources also available in other languages)
- Economic Injury Disaster Loan (EIDL): a loan program providing up to $500,000 of economic relief for businesses experiencing a temporary loss of revenue
- Restaurant Revitalization Fund: a grant program providing up to $10 million to help restaurants, bars and other eligible businesses keep their doors open
- Shuttered Venue Operators Grant Program: a grant program providing up to $10 million to help businesses like live venues, theaters, museums and arts organizations
- SBA debt relief: financial reprieve options for small businesses during the COVID-19 pandemic
How to Get Started
Indiana small-business owners interested in applying for SBA COVID-19 relief funding should contact the Indiana SBA district office. Small-business owners outside of Indiana can locate their SBA district office by visiting the SBA local assistance map.