Small Business Resources to Support Economic Retention and Recovery

This article contains a list of resources for Indiana small businesses to support economic retention and recovery related to the COVID-19 coronavirus. It will be regularly updated to include the latest information and resources as they are made available.

Business Counseling (No-Cost)

• Small Business Administration:  The SBA works with a number of local partners to counsel, mentor and train small businesses.
• Indiana Small Business Development Center: Business advising for strategy, market research, business planning, export assistance and valuation.

Financial Resources

• Economic Injury Disaster Loan program: The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the coronavirus (COVID-19).
• Facebook Small Business Grants program: Up to 30,000 eligible small businesses in more than 30 countries where Facebook operates will be able to receive the grant.
• Bankable: The Bankable QuickBridge loan provides funding for Indiana businesses that are still open and still have demand for their product or service, but cash flow is challenged due to a drop in sales, slow pay from customers, delayed purchase decisions, and more.
• Small Business Emergency Loans: Small Business Guide and Checklist for coronavirus emergency loans.
• USDA Rural Development: The COVID-19 Federal Rural Resource Guide (PDF, 349 KB) is a first-of-its-kind resource for rural leaders looking for federal funding and partnership opportunities to help address this pandemic.

Learning Opportunities

• Digital Ready Businesses: Interactive workshops and online courses led by a statewide team of Purdue trainers, participants learn about the importance of the digital economy, how to incorporate digital strategies into the workplace and build technical knowledge.

Main Street

• Main Street America:  List of blogs on how to help during this time.
• Resources and Tools: Compilation of existing resources and opportunities to help Main Street districts during this crisis.

Marketing/Customer Connections

• How to Market During a Pandemic: Resources for public relations, social media, sales and marketing strategies that your small business can put into action immediately.
• Locable: Tips for marketing your small business or community in this time of the COVID-19 coronavirus.

Planning Resources

• Business Retention & Expansion program: An economic development strategy of proactively connecting with existing businesses to understand and respond to local business needs. Special attention is given to small businesses that employ between 10 to 99 employees, otherwise known as Stage 2 firms.
• Economic Gardening program: Stage 2 companies receive up to 36 hours of strategic research and technical assistance by skilled professionals from Purdue University and partnering organizations in the areas of Market Research, Geospatial Analysis, SEO and Social Media.
• Economic Gardening and COVID-19: Chris Gibbons, founder of the National Center for Economic Gardening, discusses the potential economic impact of COVID-19, drawing on his 30-plus years of experience in the economic development field.
• Restore Your Economy: Resource for up-to-date information related to COVID-19 and its economic impacts. It is managed by the International Economic Development Council (IEDC) with generous support from the U.S. Economic Development Administration and IEDC’s Economic Development Research Partners program.
• Annuity: A Guide to COVID-19 and Your Finances: What You Need to Know

Tax Updates

• Tax Relief: Tax help for taxpayers, businesses, tax-exempt organizations and others – including health plans – affected by coronavirus (COVID-19).

Quick Links

• Indiana Office of Community & Rural Affairs (OCRA): For immediate and up-to-date information on Coronavirus in Indiana, visit in.gov/coronavirus.
• Indiana Small Business Development Center (ISBDC): The Indiana SBDC Small Business COVID-19 Resource Guide is available for download here.
• IEDC Business and Industry Question Hotline: 1-877-820-0890 or email covidresponse@iedc.in.gov
• Indiana Chamber of Commerce: Information on government/community assistance, tools you can use and health latest for helping make the decisions that are best for your organization.
• Indiana Tourism: COVID-19 resources for the Indiana Tourism industry.
• Small Business Administration (SBA): Small business guidance and loan resources.

The organizations and resources listed are for reference only and are not endorsed by Purdue University.