While resilience has been one of the themes of the last few months – and much more will be required going forward – the hope is that recovery can also take center stage.
Resources, both existing and recently announced, for the business community are available to assist in that effort. Here are a few to take note of:
- On May 29, the state of Indiana announced the Small Business Restart Fund. The basic requirements: Fewer than 50 employees, less than $5 million in revenue in 2019, a 40% revenue decline and no funds received through the Paycheck Protection Program or two other loan funds.
- The Economic Activity Stabilization & Enhancement (EASE) program: Three initiatives aimed at supporting technology and operational advancements in the state’s manufacturing industry. The Smart & Advanced Manufacturing (SAM) Focus Fund is set to make immediate matching seed and early-stage investments for integration of smart technologies.
- The Indiana Small Business Development Center (Indiana SBDC) has received nearly $3.7 million from the U.S. Small Business Administration (SBA) through the CARES Act to support increased resources for Hoosier entrepreneurs and small businesses over the next 18 months. Services are expected to focus on financial assistance, e-commerce, business adaptation and innovation, disaster resiliency and planning, and reopening plans.
The Indiana Chamber has been providing access to these resources and many more through its Road to Recovery web page. A few highlights and numbers to share:
- Approximately 35,000 visitors to that web page over the past two months plus. Information from state and federal agencies, as well as private sector analysis, has assisted Chamber members and others. Also included is the Chamber Road to Recovery Policy Agenda.
- Nearly 1,000 people have accessed the Submit a Question feature on this page. The Chamber, with additional guidance from the legal team at Ice Miller, has provided a concierge service to employers and employees in need.
Seventeen free webinars (replays available) have covered topics from loan and unemployment assistance to practical return to work guidance from Indiana business leaders. Karl LaPan, president and CEO of the Northeast Indiana Innovation Center, was among the panelists in the May 7 program. More than 12,000 have taken advantage of these webinars.
Let me close by sharing several unsolicited testimonials from Chamber members:
- “Thank you for being the voice of business in the state – we certainly need you now more than ever.”
- “We are appreciating all the Chamber does – you and the rest of the team have really stepped up to the plate for your members during these crazy times.”
- “I wanted to let you know how much we appreciate the webinars the Chamber has hosted. We have found them to be very helpful and very reliable. So much so, they are the only ones I watch anymore. We do appreciate your support during this time.”
Please reach out and let us know how we can further assist you and your organization.
