Covid-19 Financial Assistance
1si is working with several of our partners to create and provide direct relief assistance for businesses.
1si is working with several of our partners to create and provide direct relief assistance for businesses.
Centra Credit Union
Christopher Bottorff
President Southern Region / Chief Sales Officer
cbottorff@centra.org
Office (812) 280-2780 | (800) 232-3642, ext. 2780
Mobile (502) 777-9431
www.centra.org
First Harrison Bank
Jeff Thomas
Senior Vice President | Director of Business Development
JThomas@firstharrison.com
Office (812) 981-6264
www.firstharrison.com
First Savings Bank
Eric Howard
Executive Vice President – Chief Lending Officer
EHoward@fsbbank.net
Office (812) 218-6844
www.fsbbank.net
German American Bank
Adrian Brown
Market President
adrian.brown@germanamerican.com
Office (812) 748.9772
Mobile (812) 620-2818
www.germanamerican.com
PNC Bank
Thomas R. Wallace
Commercial Banking Market Leader, Senior Vice President
t.wallace@pnc.com
Office (502) 581-5673
Mobile (502) 693-5399
www.pnc.com
Jeremy A. Frankforther
Vice President, Relationship Manager, Commercial Banking Group
Jeremy.Frankforter@pnc.com
Mobile (502) 741-1315
www.pnc.com
Stock Yards Bank & Trust Co.
Le Anne Scott
Relationship Manager, Business Banking
LeAnne.Scott@syb.com
Office (502) 625-2480
www.syb.com
U.S. Bank
Samuel Castle
Senior Vice President, Business Banking Market Leader
samuel.castle@usbank.com
Phone (502) 562.6227
www.usbank.com
Janine Wells
Assistant Vice President, Branch Manager
Janine.wells@usbank.com
Phone (812) 941-8368
www.usbank.com
WesBanco
Adam Naville
Senior Vice President & Senior Commercial Lender
Anaville@wesbanco.com
Phone 812.981.7349
www.wesbanco.com
Restart Grant Application Period Extended to January 22, 2021
Applications are now open for an extended period: Dec. 21, 2020-Jan. 22, 2021at 5 p.m. EST. Please view updated eligibility requirements and reimbursement categories below.
In May, Gov. Holcomb approved funding to support Indiana Small Business Restart Grants, helping accelerate the speed of economic recovery activity by providing working capital to cover certain expenses related to the global pandemic. The program is funded at $31 million by federal funding made available through the CARES Act – $30 million approved by the state and an additional $1 million allocated by the city of Indianapolis for small businesses located in Marion County. Of the state’s $30 million, at least $5 million is reserved for certified minority- and women-owned businesses.
Through the program, eligible Indiana small businesses can seek reimbursement for qualified business expenses, such as payroll (for W2 employees only), insurance premiums, rent/mortgage payments (for owner-occupied property only), utilities, lease payments for real or personal property, and safety investments, such as personal protective equipment (PPE) and infrastructure improvements.
More information: Back on Track Indiana
How to Take Advantage of the Coronavirus Aid, Relief, and Economic Security (CARES) Act
Congress has approved $350 billion in emergency loans for small businesses to help them keep workers employed. In fact, if small businesses maintain or later restore their payrolls, they may not have to repay some — or possibly any — of the loan. Here’s a guide and checklist from the U.S. Chamber of Commerce to help your small business through the process.
MCM CPAs & Advisors Families First Coronavirus Response Act Tax Updates (March 24, 2020)
Click here
IRS Releases COVID-19 Payment Relief and Extended Tax Deadline (March 23, 2020)
Click here
SBA Offers Disaster Assistance to Indiana and Kentucky Small Businesses Economically Impacted by the Coronavirus (Covid-19) – (March 19, 2020)
Click here
Gov. Holcomb approved $30 million in federal funding made available through the CARES Act to small business restart grants, helping accelerate the speed of economic recovery activity by providing working capital to cover certain expenses related to the global pandemic. Indiana small businesses with fewer than 50 employees and $5 million in annual revenue that have experienced a 40% drop in revenue will be eligible to be reimbursed for up to 80% of qualified expenses, such as rent or mortgage payments, utilities, lease payments for real or personal property, and safety investments, such as personal protective equipment (PPE) and infrastructure improvements.
Eligible small businesses that demonstrate a revenue loss of at least 40% will be awarded up to $2,500 for each month while small businesses that demonstrate a revenue loss of at least 80% will be awarded up to $5,000 for each month, with grants issued up to $10,000 per company. Of the $30 million allocated to the fund, at least $5 million will be reserved for certified minority- and women-owned businesses. More information on the program, including additional eligibility requirements, is available here.
Assistance for New Albany Restaurants and Service Industry Employees by DNA, City of New Albany and New Albany Urban Enterprise Association (March 23, 2020)
Click here
Community Foundation of Southern Indiana Opens Disaster Relief Fund in Response to COVID-19
DUKE ENERGY FOUNDATION PLEDGES SUPPORT
The Community Foundation of Southern Indiana has announced that it is opening its Disaster Relief Fund in response to needs created by the COVID-19 pandemic. Anyone can give to the fund and 100% of the donations will be used to address community needs.
Those interested making a tax-deductible gift to the Disaster Relief Fund can do so on the Foundation’s website at www.cfsouthernindiana.com.
Foundation fundholders can also recommend a grant to the Disaster Relief Fund from their donor advised fund. One hundred percent of the donations will be used to address community needs.
One Louisville: COVID-19 Response Fund – 3/19/2020
Click here
BB&T, now Truist, Response to COVID-19
German American Bank
JP Morgan Chase Announces $50 million Philanthropic Effort
Click here
PNC Bank
Click here For Paycheck Protection Program, Click here.
US Bank
Janine Wells
812-941-8368
janine.wells@usbank.com
emp.usbank.com/splash/covid-19.html
WesBanco
Adam Naville
812-948-7349
anaville@wesbanco.com
www.wesbanco.com/coronavirus
For immediate release – April 2, 2020 – The Paycheck Protection Program (PPP) will offer some relief to small businesses in Indiana as it launches on Friday, April 3. Indiana bankers ask for patience from the public as the program begins. Application volume will be very high as the financial institutions qualified to offer these loans will strive to keep up with demand. The IBA also recommends the following five things businesses can do right now:
Read the entire press release by clicking here.
For more information, please visit sba.gov.