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Coronavirus Financial Relief

Covid-19 Financial Assistance

1si is working with several of our partners to create and provide direct relief assistance for businesses.

SBA Lenders in Southern Indiana

Centra Credit Union
Christopher Bottorff
President Southern Region / Chief Sales Officer 
Office (812) 280-2780 | (800) 232-3642, ext. 2780
Mobile (502) 777-9431

First Harrison Bank
Jeff Thomas
Senior Vice President | Director of Business Development
Office (812) 981-6264

First Savings Bank
Eric Howard
Executive Vice President – Chief Lending Officer
Office (812) 218-6844

German American Bank
Adrian Brown
Market President
Office (812) 748.9772
Mobile (812) 620-2818

PNC Bank
Thomas R. Wallace
Commercial Banking Market Leader, Senior Vice President
Office (502) 581-5673
Mobile (502) 693-5399

Jeremy A. Frankforther
Vice President, Relationship Manager, Commercial Banking Group
Mobile (502) 741-1315

Stock Yards Bank & Trust Co.
Le Anne Scott
Relationship Manager, Business Banking
Office (502) 625-2480

U.S. Bank
Samuel Castle
Senior Vice President, Business Banking Market Leader
Phone (502) 562.6227

Janine Wells
Assistant Vice President, Branch Manager
Phone (812) 941-8368

Adam Naville
Senior Vice President & Senior Commercial Lender
Phone 812.981.7349

Funding Options Federal

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)
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SBA Offers Disaster Assistance to Indiana and Kentucky Small Businesses Economically Impacted by the Coronavirus (Covid-19) – (March 19, 2020)
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Funding Options - State

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.

Funding Options - Local

Assistance for New Albany Restaurants and Service Industry Employees by DNA, City of New Albany and New Albany Urban Enterprise Association (March 23, 2020)
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Community Foundation of Southern Indiana Opens Disaster Relief Fund in Response to COVID-19

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

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

Funding Options - Private

BB&T, now Truist, Response to COVID-19

Click here

German American Bank

Click here

JP Morgan Chase Announces $50 million Philanthropic Effort
Click here

PNC Bank
Click here     For Paycheck Protection Program, Click here.

US Bank
Janine Wells

Adam Naville

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:

  1. Talk to your lender, if you haven’t already. If you are experiencing or expect to experience cash flow problems, contacting your lender is the critical first step.
  2. Plan for the next 3-6 months, if you haven’t already. Many businesses we’ve heard from have sufficient funds or access to capital for the first 2-3 months. We don’t know how long the pandemic will last, however, so look ahead, both in terms of a potential lengthening of the pandemic and also in how you will handle recovery and re-opening of the business if you are currently closed.
  3. Be ready to produce required information quickly to help your lender with your application. All loan programs still require some information in order for the lender to underwrite the loan, including the ones created through the CARES Act.
  4. Don’t panic and draw on lines of credit unnecessarily. There is plenty of liquidity in the system (unlike during the financial crisis in 2008), so don’t panic and draw on lines of credit unnecessarily. Just like we are encouraging consumers to keep excess cash in insured financial institutions, keep the lines of credit intact until you absolutely need to access them. There may be costs associated with accessing those funds, and if you don’t need to incur the added expense, don’t.
  5. Have patience. The banking industry wants to help you through these unprecedented times, but not all programs are in place yet, and even when they are, technology can cause hiccups or delays (e.g. systems crashing).

Read the entire press release by clicking here.

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