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Small businesses impacted by COVID-19 outbreak eligible for financial help

Eric Holcomb

Small businesses can apply for low-interest loans under a disaster designation from the U.S. Small Business Administration.

Posted: Mar 19, 2020 9:19 AM
Updated: Mar 19, 2020 9:41 AM

INDIANAPOLIS (WLFI) — Indiana small businesses are eligible for financial help due to the COVID-19 outbreak under a plan announced by Gov. Eric Holcomb Thursday.

Small businesses can apply for low-interest loans under a disaster designation from the U.S. Small Business Administration. The loans can cover up to $2 million to help overcome the temporary loss of revenue due to the COVID-19 outbreak. According to a news release, these loans may be used to pay fixed debts, payroll, accounts payable and other bills incurred during this public health emergency. The loan interest rates for small businesses and nonprofits are 3.75% and 2.75%, respectively, with terms up to 30 years.

Small businesses, small agricultural cooperatives and nonprofits are all eligible.

“Small businesses play a critical role in driving Indiana’s economy forward, with more than 512,000 employing 1.2 million Hoosiers across the state,” Gov. Holcomb said. “These disaster loans will provide much needed financial support to small business owners who are weathering the impact of the coronavirus outbreak.”

To qualify, small businesses must demonstrate credit history, the ability to repay the loan, and proof of physical presence in Indiana and working capital losses, according to the release. Additionally, the Indiana Small Business Development Center will provide free business advising and application assistance for small businesses impacted.

To apply, click here.

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Indiana Coronavirus Cases

Data is updated nightly.

Cases: 660071

Reported Deaths: 12531
CountyCasesDeaths
Marion904161633
Lake48298874
Allen35720633
Hamilton31970396
St. Joseph29796510
Elkhart25331412
Vanderburgh21192377
Tippecanoe19927199
Johnson16312356
Porter15917269
Hendricks15785300
Clark11913180
Madison11717315
Vigo11562229
Monroe10300159
Delaware9824179
LaPorte9739196
Howard9038195
Kosciusko8539108
Bartholomew7424147
Hancock7399130
Warrick7399150
Floyd7180167
Wayne6622191
Grant6413157
Boone606888
Morgan6066124
Dubois5890111
Dearborn544466
Cass542899
Marshall5414104
Henry541392
Noble508476
Jackson464165
Shelby459890
Lawrence4174111
Gibson400981
Harrison397863
Clinton394453
Montgomery385083
DeKalb384378
Knox356285
Miami356163
Whitley348435
Huntington341876
Steuben337455
Wabash330576
Putnam328259
Ripley326461
Adams322149
Jasper314843
White297152
Jefferson293773
Daviess285096
Fayette271156
Decatur270188
Greene260780
Posey260431
Wells257174
Scott250050
LaGrange240770
Clay240344
Randolph225376
Spencer216930
Jennings214344
Washington209927
Sullivan202939
Fountain201042
Starke187250
Owen181953
Fulton177937
Jay177528
Carroll176218
Perry173335
Orange170950
Rush164322
Vermillion160141
Franklin159135
Tipton145941
Parke138615
Pike127432
Blackford120527
Pulaski106544
Newton96531
Brown94839
Benton91713
Crawford90313
Martin80114
Warren75312
Switzerland7527
Union66910
Ohio52911
Unassigned0433

COVID-19 Important links and resources

As the spread of COVID-19, or as it's more commonly known as the coronavirus continues, this page will serve as your one-stop for the resources you need to stay informed and to keep you and your family safe. CLICK HERE

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