Small Business Grants Available
As Indiana continues to address the impact of the COVID-19 pandemic on our state and local economies, the Indiana Economic Development Corporation recently announced the state would expand eligibility for the Indiana Small Business Restart Grant Program.
Created to help struggling Indiana small businesses, the grant program began with an initial $34.5 million and received an additional $60 million in CARES Act dollars appropriated by the Indiana General Assembly during the 2021 legislative session.
Eligible expenses for reimbursement include:
• Payroll;
• Sole proprietor net profit reduction;
• Insurance premiums;
• Rent or mortgage payments;
• Lease payments for real or personal property;
• Utilities;
• Safety investments; and
• Food delivery software service payments.
To be eligible, a company must have been established prior to Oct. 1, 2019; be registered to operate in Indiana; have had fewer than 100 full time employees as of Dec. 31, 2019; have had less than $10 million in revenue (gross receipts or sales) in 2019; and demonstrate a monthly gross revenue loss during the eligibility period of at least 30% compared to pre-COVID 2019 average monthly gross revenue.
My colleagues and I remain committed to supporting Hoosier small businesses and strongly encourage those eligible to apply. To learn more about the Indiana Small Business Restart Grant Program, visit BackOnTrack.in.gov
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