Indiana Small Business Development Center – Small Business Restart Fund
Agency / Department: Indiana Small Business Development Center
Resource: Small Business Restart Fund
Details: Eligible Indiana small businesses can seek reimbursement for up to 80% of qualified 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. Eligibility requirements:
Business must be registered to operate in Indiana
Business must have had less than 50 employees at 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 revenues
Business must not have used funding from the Paycheck Protection Program (PPP), Economic Injury Disaster Loan (EIDL), or Community Development Block Grant (CDBG)
Small businesses that meet the eligibility requirements can be awarded up to $2,500 or up to $5,000 for each month in which the business demonstrates a revenue loss of at least 40 percent or of at least 80 percent, respectively, with grants issued up to $10,000 per company. Of the $30 million allocated to the fund, at least $5 million will be reserved for certified minority- and women-owned businesses.