COVID-19 Business Guide to SBA Resources and Other Resources

The Innovation Connector’s Phase 5 Reopening Plan, 6/29/2020 


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COVID-19 Business Guide to SBA Resources and Other Resources

By: Ted A. Baker, Innovation Connector, April 9, 2020

In these very uncertain times, there has been information-overload that has flooded our inboxes, airwaves, podcasts, webinars, and most conversations.  As leaders or businesses and nonprofit organizations in the Muncie/Delaware County community, understanding what resources are available for who and how to apply for them, well is just plain overwhelming.

The United States Small Business Administration, as a result of legislation passed by Congress, provides some great resources and opportunities for small businesses, including some non-profit organizations. This document is designed to assist you in navigating through the funding programs that can benefit, and in some cases, save your business or organization.  These programs are for those who make an effort to apply for them.  Each program requires specific actions for you to take.  Please be assured that these documents are not too difficult to complete.  You will be asked for specific financial information that should be readily available in your accounting systems or through your bookkeeper/CPA.

Of all the resources that seek to unpack the SBA programs, the best resource is the SBA itself.  Go to  After opening the home page, you will see at the top of the page:

Coronavirus (COVID-19): Relief options and Additional Resources


This will take you to the next page:

Coronavirus (COVID-19): Small Business Guidance & Loan Resources

Scroll down to:

Coronavirus Funding Options

Click here to learn more about available SBA loan and debt relief options

Click on this, and you will find a breakdown of all of the programs that are available from the SBA.  There are three (3) programs that are more applicable for your non-profit organization as a result of the much-acclaimed CARES Act.


  1. Paycheck Protection Program – This is a payroll-focused loan program that can provide up to 2.5 times the average monthly amount of your last 12-months payroll. This application is easy to complete but read the instructions first to learn what information and data you will need.  This is the program that everyone is talking about because it has provisions that could allow the loan amount to be “forgiven.”  Please remember that this initially is a loan, and this program is administered through your local SBA-approved bank. Note: Non-profit leaders may want to discuss this with their board of   Bylaws of some non-profit organizations require board approval for Executive Directors to borrow money for their organization.

Again, please work through your local banks for application processing.  Different banks may have different policies and may require certain information. Banks are overwhelmed with applications, so it is imperative that you connect with your local banker.

  1. Economic Injury Disaster – The SBA’s Economic Injury Disaster Loan (EIDL) provides vital economic support to non-profit organizations to help overcome the temporary loss of revenue they are experiencing as a result of the COVID-19 pandemic. Non-profit organizations are eligible to apply for an Economic Injury Disaster Loan (EIDL) advance of up to $10,000. There are recent updates to this provision so that amount may change. This advance will provide economic relief to businesses and organizations that are currently experiencing a temporary loss of revenue. Funds will be made available following a successful application. This loan advance may not have to be repaid. Part of this loan program allows businesses and organizations to borrow up to $2 million.  Per an SBA representative, once your application is submitted, an SBA loan officer will contact the applicant via email and by phone within 1-2 weeks.  At that time, the SBA loan officer will review your application and determine the amount your organization can borrow.  The interest rate for non-profit organizations is set at 2.75%, and payback, depending on loan circumstances, can be paid back in up to 30-years.
  2. SBA Express Bridge LoansExpress Bridge Loan Pilot Programallows non-profit organizations who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly. These loans can provide vital economic support to your organization to help overcome the temporary loss of revenue they are experiencing and can be a term loan or used to bridge the gap while applying for a direct SBA Economic Injury Disaster Loan. If your organization has an urgent need for cash while waiting for decision and disbursement on an Economic Injury Disaster Loan, it may qualify for an SBA Express Disaster Bridge Loan.

Applications and Instructions can be found at each of the SBA website locations – The SBA website regularly posts all recent updates and changes to the program.

Please remember that you are not alone on this journey.  Please seek the assistance of your board members if possible or other resources within your organization pr business.  There are also resources available from within the Muncie/Delaware County community that can help you.  The two organizations listed below offer free direct services to assist you.  Please know that they are not CPAs or Attorneys, but they are very knowledgeable and willing to answer your questions and help you.  Please feel free to contact:

Muncie Innovation Connector

Ted Baker, Executive Director
Contact information:  Office phone: 765-285-4902, After hours contact: 765-744-6956,

Contact email:

The Innovation Connector can provide other opportunities for funding if the SBA funding does not suit your organization or business.  Please contact Ted for for information.


East Central Indiana Small Business Development Center (SBA funded organization)

Peggy Cenova, Regional Director

Contact information: Office phone: 765.282.9950, M-F, 8 am – 5 pm, or by appointment. After hours contact, 317-439-0104, or visit our website, – Contact email: