Grants Available for Struggling Indiana Small Businesses
NORTHWEST INDIANA-Indiana Small Business have until Friday (January 22) to apply for a Restart Grant.
The Indiana Small Business Restart Fund provides eligible Indiana small businesses the opportunity to seek reimbursement for qualified business expenses, such as rent/mortgage payments, utilities, lease payments for real or personal property, and safety investments, such as personal protective equipment (PPE) and infrastructure improvements.
Grants will be issued to reimburse qualified expenses up to $50,000 per company and will be issued in the order in which applications are received until funding is exhausted or until the program expires.
In May, Governor Eric Holcomb approved funding to support Indiana Small Business Restart Grants, helping accelerate the speed of economic recovery activity by providing working capital to cover certain expenses related to the global pandemic.
The program is funded at $31 million by federal funding made available through the CARES Act – $30 million approved by the state and an additional $1 million allocated by the city of Indianapolis for small businesses located in Marion County. Of the state’s $30 million, at least $5 million is reserved for certified minority- and women-owned businesses.