The Indiana Economic Development Corporation (IEDC) is expanding a program to help small businesses recover from the pandemic.
Through the Indiana Small Business Restart Grant program, eligible small businesses can apply for funding to reimburse payroll expenses; insurance premiums; rent, lease, and mortgage payments; utilities; and safety investments incurred from March 2020 through May 1, 2021.
The IEDC says reimbursements may be awarded up to $10,000 for each month but may not exceed $50,000 over a 12-month period. Additionally, businesses that have previously received funding through the program but have not reached the maximum will be allowed to re-apply and submit new expenses for reimbursement.
The state first launched the program last May with an initial $34.5 million. The $60 million expansion comes from the CARES Act and has been approved for allocation by the Indiana General Assembly.
To learn more about the program visit https://backontrack.in.gov/2377.htm.
Other Pandemic-Related Business Resources
In addition to the Small Business Restart Grant program, the Indiana Economic Development Corporation has developed a long list of resources for businesses as they navigate through the challenges presented by the pandemic.
The directory includes information about small business loans, the Paycheck Protection Program, Indiana companies manufacturing PPE, and more. In addition, you can sign up to receive updates on statewide action and additional resources from the Governor’s Office.
Visit the IEDC's Business Resource Center for more information.