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Indiana Small Business Restart Fund

Indiana Small Business Restart Fund – Reminder: If you haven’t yet applied for the Small Business Startup Grant Program, check it out below! The deadline has been extended, and the eligibility criteria has been revised. If you already receive federal funding through other programs, you can still apply for this grant! Do not continue funding. They are available for you!

You can click on the link in the blue section below to get more details and access the app.

Indiana Small Business Restart Fund

Indiana Small Business Restart Fund

INDIANAPOLIS (September 23, 2020) – Governor Eric J. Holcomb today announced changes to the Indiana Small Business Restart Grant to increase funding availability for Hoosier small businesses impacted by the global pandemic. The grant program, which provides working capital to accelerate economic recovery, is now:

Indiana Extends Small Business Restart Grant Program, Expands Eligibility Criteria

With today’s changes, the state aims to increase the number of small businesses that use the program and increase the amount of awards eligible businesses receive. By expanding the program, eligible small businesses that do not receive the maximum award of $10,000 can now claim reimbursement for eligible business expenses such as rent/mortgage payments, utilities, real or personal property leases, and security investments. In additional months – October and November 2020.

The Indiana Small Business Restart Grant is funded with $31 million in federal dollars awarded under the CARES Act: $30 million approved by the state and an additional $1 million provided by the City of Indianapolis for small businesses in Marion County. At least $5 million of the $30 million allocated by the state is reserved for certified minority- and women-owned businesses.

Eligible Indiana small businesses are encouraged to review program details and apply online at backontrack.in.gov. For more information on support, resources and funding available to Hoosier entrepreneurs and small businesses, visit StayINBiz.org.

The Indiana Economic Development Corporation (IEDC) leads Indiana’s economic development efforts by helping start, grow and locate businesses in the state. IEDC, which Governor Eric J. Holcomb administers many initiatives, including performance-based tax credits, workforce training grants, resources for innovation and entrepreneurship, public infrastructure support, and talent attraction and retention. For more information about IEDC, visit www.iedc.in.gov. In April 2021, the State of Indiana announced the expansion of the Indiana Small Business Restart Grant to accelerate economic recovery efforts by supporting Hoosier entrepreneurs and small businesses. The program provides working capital to eligible companies during and offsetting some of the costs associated with the global pandemic.

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Small businesses that meet the eligibility requirements may apply for reimbursement of eligible business expenses incurred between March 1, 2020 and October 31, 2021 (the “Eligibility Period”). Up to $10,000 may be awarded for each month during the qualifying period to reimburse expenses and reduce sole proprietorship net income. However, the total compensation shall not exceed US$100,000.

Businesses that have already received a Small Business Restart Grant but have not reached the above maximum repayment amount may reapply during this extended program period. Expenses already reimbursed under this program will no longer be considered eligible expenses. Eligible businesses can apply for grants to cover eligible costs of their Indiana operations, such as wages, insurance premiums, rent or mortgage payments, utilities, lease payments and security investments. These costs can be reimbursed up to 80% of non-labor costs and up to 100% of labor costs.

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Beginning September 20, 2021, sole proprietors are eligible for a deduction for the decrease in net income, the decrease in net income (Form 1040, Schedule C, line 31) is determined by comparing 2019 net income/2019 number of months worked since 2020. Income/12 Months and Net Income in Monthly Profit and Loss Statement of Sole Proprietor till 2021. Sole proprietors may reapply for the Small Business Restart Grant for the qualifying period. The program may favor Hoosier small businesses in the hospitality industry, but all eligible businesses are encouraged to apply.

Indiana Small Business Restart Fund

Last date to apply is November 15, 2021 Eligible small businesses are encouraged to apply and submit a reimbursement claim as soon as possible; Grants will be awarded on a first-come, first-served basis until funds are exhausted or the program expires.

Our Big List Of Covid 19 Assistance Programs

Please note: Costs covered by other federal grant programs such as PPP, EIDL, Restaurant Revitalization, or other federal grant programs such as CDBG may not be reimbursed by this grant.

Application A small business must collect the following documentation to apply. You will upload these documents to the application. Our thoughts and hearts are with everyone near and far with Covid-19. There are resources for local businesses and organizations of all types and sizes. Please check back for updates as we continue to track and publish changes Local customers and stakeholders will be contacted to identify the “right resource at the right time”. We are also establishing a local membership group called Serve Kosciusko, where you can find ways to help Kosciusko County during these difficult times. Please email us if you have suggestions for other coverage opportunities.

“Healthcare and government officials work together to keep the American people safe and healthy. Small businesses are encouraged to contribute to the health of their employees, customers and themselves.”

Get the latest information about the coronavirus and the Indiana Department of Health, including the state’s response, Indiana’s novel coronavirus map, public resources, professional resources, contact information and frequently asked questions.

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This manual from Lear Corporation contains recommended practices consistent with CDC and World Health Organization (WHO). PLEASE NOTE: BY DOWNLOADING THE MANUAL FROM YOURSELF AND YOUR EMPLOYER, YOU ACKNOWLEDGE THE FOREGOING AND AGREE TO BE LIABLE FOR ANY SITUATION ARISING OUT OF OR RELATED TO THE ADOPTION OR NON-ADOPTION DECISIONS, PRACTICES OR PROCEDURES. KEDCO SHALL HAVE NO LIABILITY contained in the Lear Safe Work Manual.

Find state information on unemployment, the CARES Act, news and events, affected DWD programs and policies, and additional resources.

Governor Holcomb authorized $30 million in federal funding through the CARES Act for Small Business Recovery Grants, which help accelerate economic recovery by providing working capital to cover specific costs related to the global pandemic. Learn more here.

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Indiana Small Business Restart Fund

Key initiatives in Kosciuszko County’s strategic economic development drive KEDCO Investors’ new mission and strategic priorities for Transformers, the heart and soul of our community. We use cookies on our website to remember your preferences and provide you with a great experience on repeat visits. The setup details are fine

Indiana Legislative Update

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Muncie Delaware County, Indiana Economic Development Alliance

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Indiana Small Business Restart Fund

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Covid 19 Resources & Info

Indiana is expanding a small business assistance program in response to the COVID-19 pandemic after many Hoosier businesses struggled to apply.

That’s partly because small businesses that received other federal funds for COVID-19 relief were ineligible for government grants. New changes to the program have removed that barrier — businesses that have accessed federal support, such as the Wage Protection Program, can also receive restart grants.

The program, which was supposed to end Sept. 30, will now run through Nov. 1 for Marion County businesses and Dec. 1 for all other counties.

Businesses with fewer than 50 employees and less than $5 million in 2019 revenue are eligible. They must show a monthly loss of at least 40 percent compared to pre-COVID earnings.

Funds Still Available Through The Indiana Restart Grant

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