Updates and Resources for Downtown Jeffersonville Businesses during the COVID-19 crisis
Governor Holcomb has announced Back On Track — Indiana’s plan to re-open the economy during the COVID-19 crisis.
Jeffersonville Sustains – Forgivable Loan Program
The City of Jeffersonville has established the Jeffersonville Sustains Forgivable Loan Program to provide access to operating capital to specific small businesses, within the City of Jeffersonville, whose operations and cash flow have been negatively impacted by the 2020 COVID-19 pandemic. CLICK HERE FOR AN APPLICATION
Love Local. Support Your Downtown Jeffersonville Businesses
We’re all in this together and Downtown Jeffersonville businesses appreciate your support! Remember to practice social distancing and maintain 6 feet of space between you and other people.
Paycheck Protection Program
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating in the program.
Go to this link for info and forms: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program-ppp
Small Business Emergency Forgivable Loan Program
Due to the COVID-19 pandemic, Caesars Foundation of Floyd County, in partnership with One Southern Indiana, the Community Foundation of Southern Indiana, and the Indiana Small Business Development Center, has established the COVID-19 Small Business Emergency Forgivable Loan Program (SBEFLP). The program is intended to provide quick access to operating capital to small businesses in Clark and Floyd Counties whose operations and cash flow have been negatively impacted by the 2020 COVID-19 pandemic
Email Lisab@1si.org or ElizabethB@1si.org to get an application or more info.
- The SBA EIDL program can provide low-interest loans of up to $2M to businesses and private non-profits.
- EIDLs may be used to pay fixed debts, payroll, accounts payable and other bills.
- The interest rate is 3.75% for small businesses without credit available elsewhere. The interest rate for non-profits is 2.75%.
- EIDLs have long-term repayment options, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based on borrower’s ability to repay.
- Online at SBA.gov/disaster
- Need help? Access these step-by-step online instructions
- Still need help? Call the SBA’s Disaster Customer Service Center at 800-659-2955 or email email@example.com. Individuals who are deaf or hard-of-hearing can call 800-877-8339.