COVID-19 Resources
A webpage for COVID-19 Information and Resources has been established at muncie.com and will be updated regularly.

Two valuable resources for small businesses are detailed further below:

Paycheck Protection Program
Applications will open on Friday, April 3rd   for small businesses and sole proprietors. Independent contractors and self-employed individuals will be able to apply starting on Friday, April 10th. Companies will apply through an SBA approved lender.

Small Businesses and eligible nonprofit organizations, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.

Under this program:
  • Eligible recipients may qualify for a loan up to $10 million determined by 8 weeks of prior average payroll plus an additional 25% of that amount.
  • Loan payments will be deferred for six months.
  • If you maintain your workforce, SBA will forgive the portion of the loan proceeds that are used to cover the first 8 weeks of payroll and certain other expenses following loan origination.
Click here to learn more.

Economic Injury Disaster Loans and Loan Advance
These applications are currently open and businesses are encouraged to apply as early as possible.

Small businesses owners are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000.  Funds will be made available within three days of a successful application, and this loan will not have to be repaid.

The SBA's Economic Injury Disaster Loan provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. 

Click here to apply.

Additional Programs are Available
The SBA also has a number of other programs available. Please visit sba.gov/coronavirus for the most up-to-date information on all SBA programs.