NEW Small Business Restart Fund - Open June 3

Small Business Restart Fund

The State of Indiana has created a NEW Small Business Restart Fund to assist Indiana businesses as they begin to reopen.  The fund will open on Wednesday, June 3.  Complete details, eligibility requirements and the application can be found HERE.

Small business owners can receive monthly grants of up to $2,500 if they have had revenue losses of at least 40 percent and up to $5,000 if they have had revenue losses of at least 80 percent.  Total grant funds per business are capped at $10,000.

Eligibility requirements:

• Business must be registered to operate in Indiana;
• Business must have had less than 50 employees as of 12/31/2019;
• Business must have had less than $5 million in revenue in 2019;
• Business must have been profitable in 2019;
• Businesses must demonstrate a monthly revenue loss of at least 40% compared to pre-COVID-19 revenue; and,
• Business must not have used funding from the Paycheck Protection Program (PPP), Economic Injury Disaster Loan (EIDL), or Community Development Block Grant (CDBG).