Federal officials want Hoosier small business owners to know help is available

Federal officials want Hoosier small-business owners to know help is available

INDIANAPOLIS (WISH) — Federal officials in Indianapolis assured Hoosiers who own small businesses that help is available now, and more is expected very soon.

Eddie Pillow owns Pillow Logistics on the city’s far north side. He says he, like all of us, is taking precautions.

“To say that I am not anxious would be an understatement because you want to get people back to work, but there really isn’t any certainty as far as what the next month could look like,” said Eddie Pillow.

Pillow had to reduce the hours for a handful of couriers that work for his business because of the decreased demand amid the coronavirus pandemic. He says the move isn’t something he wanted to have to make.

The Small Business Administration’s Indiana district told News 8 they get an average of 40 calls a day from worried small business owners.

“First of all, don’t panic. We will get through this. There are resources available,” said Stacey Poynter, the district director for the Indiana SBA office.

Poynter told News 8 that Governor Eric Holcomb has asked the federal government to unlock financial disaster help for any small business owner in the state affected by COVID-19.

“Which will allow small businesses to borrow up to $2 million, if needed, for a term of up to 30 years, if needed, for this disaster assistance at a fairly low interest rate of 3.75%. We’re not quite there yet but by the time this story airs, maybe we will be. We’re waiting anytime,” said Poynter.

Pillow says he also wants to hire people who have been negatively impacted by the coronavirus.

“Maybe they were a driver for one of the Uber or Lyft to come in and we would love to talk to those folks and hopefully be able to provide an opportunity to help with our efforts as we expand our medical courier,” he said.

Click here for more information from the Indiana district office of the Small Business Administration. To find local help from the SBA based on your address or ZIP code, click here. For more information on the SBA’s Disaster Loan Assistance program, click here.