Local Small Business Guidance/Loans/Crowdsourcing Available

Small Business Assistance Websites/Documents

Please update your business information.  The State of Indiana and the Small Business Association have updated their information area offering assistance to small businesses.  This information changes often.  Currently:

• A standing program that can still be utilized is the Economic Disaster Loan Program, can be up to $2 million as long as the applicant is credit worthy--direct or indirectly affected by covid-19.
• Express Bridge loans up to $25,000 for businesses that currently have relationships with Express Lenders, this is quicker & requires less paperwork
• Forgivable loans may be coming but no definitive guidance yet. Businesses can visit: https://www.sba.gov/coronavirus

Patroncity Crowdsourcing Offer

Patroncity is a crowdsourcing/fundraising website specifically geared toward small communities especially during the COVID-19 'Stay at Home' order. 

Patronicity is working to keep vital organizations alive. Patroncity is waiving all fees on small business non-matched crowdfunding campaigns that go live before May 15th. Knowing that cash flow is important, we’ll allow rolling funds distribution before the campaign ends. Our team will provide free coaching, helping small business owners walk through the steps of the campaign, and help develop creative fundraising ideas (i.e. gift cards, online services, etc) that will help engage their community.

Resources for Small Businesses:

• Learn how to create a crowdsourced campaign
• Review Frequently Asked Questions (PDF)
• Learn best practices in setup and rollout of your crowdsourced campaign (PDF)

Small Business Relief Fund

The GoFundMe.org Small Business Relief Fund will provide micro-grants to qualifying small businesses negatively impacted by the COVID-19 pandemic. The Small Business Relief Fund is part of the Small Business Relief Initiative : a program supported by
GoFundMe, Yelp, and Intuit QuickBooks. The Small Business Relief Initiative will supply financial assistance and support to businesses across the country by providing grants, tools, and resources to help during the crisis.

The Small Business Relief Fund will provide one-time matching grants to qualifying small businesses to help alleviate the financial burdens during these pressing times. Donations to the relief fund will be paid out as grants to businesses that qualify.

To qualify for a matching grant from the Small Business Relief Fund:
a.  Start a GoFundMe Fundraiser and raise at least $500
b.  Verify that your small business has been negatively impacted by a government mandate due to the COVID-19 pandemic
c.  Verify your small business is independently owned and operated, and must not be nationally dominant in your field of operation.

Each recipient of the matching grant must intend on using the funds to help care for your employees or pay ongoing business expenses.

Resources

• Small Businesses - Learn about GoFundMe Small Business Relief.  Click top links for information about GoFundMe and how to start fundraising.
• Individuals - You can help 3 ways
  • Find a local business to donate to (site is currently overloaded .. if an error, return later)
  • Start a GoFundMe fundraiser for a local business (see above)
  • Donate to the GoFundMe Small Business Relief Fund (see right side) to support many small business across the country
• Corporations can make donations to the fund.  To learn how you can be a part of this movement scroll to the bottom of this page.