COVID-19 / Financial

Stay IN Biz & Small Business Restart Extension

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On Dec. 21, 2020, the Small Business Restart Grant program was reopened for an extended eligibility period to enable more businesses to leverage the program. Eligible businesses are encouraged to apply and submit supporting documentation by 5 pm (EST) on Jan. 22, 2021.

In May 2020, Governor 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.

Through the program, eligible Indiana small businesses can seek reimbursement for qualified business expenses, such as payroll (for W2 employees only), insurance premiums, rent/mortgage payments (for owner-occupied property only), utilities, lease payments for real or personal property, and safety investments, such as personal protective equipment (PPE) and infrastructure improvements.

Learn more about this grant opportunity and apply here.

For more small business resources and funding options, visit StayInBiz.org.