Top Small Business Grants in Indiana
Share this article:
Grants for Small Businesses in Indiana
Federal Home Loan Bank of Indianapolis (FHLBI) Elevate Grants
Program description: FHLBI Elevate grants can help you grow your Indiana firm and cover costs related to small business expansion and workforce development. Incentive: Eligible business owners can receive up to $20,000 to cover project expenses, such as technology enhancements, capital improvements, and workforce development. General requirements: Here are some of the general requirements for this grant: Partner with an FHLBI member institution Be a small business owner based in Indiana or Michigan Be active in business for at least 12 months Have average annual gross revenues of less than $1 million How to apply: Work directly with an FHLBI member institution to apply when the annual application opens.
City of South Bend Business Grants
Program description: The city of South Bend offers a variety of grants that may partially reimburse eligible businesses for making capital improvements. Incentive: Eligible businesses can receive up to $20K for making visual enhancements in downtown South Bend and up to $112K for implementing an advanced sustainability project in select corridors. General requirements: Any business in South Bend may be eligible for a Vibrant Places matching grant, and businesses in the downtown area may be eligible for one Exterior Enhancement Grant per year. How to apply: Visit the City of South Bend website for additional information on these grants and how to apply.
Michigan City Urban Enterprise Association (MCUEA) Business Grant Program
Program description: The MCUEA offers grants to eligible business owners who make exterior and interior improvements to their brick-and-mortar commercial establishments in Michigan City, Indiana. Incentive: Eligible businesses in the Michigan City Urban Enterprise Zone can receive up to $7,500 in reimbursements for making capital improvements. General requirements: You generally need to operate a business within the Michigan City Urban Enterprise Zone for a minimum period of one year to qualify for this grant. How to apply: Contact the Michigan City Urban Enterprise Association for information on when the business grant application opens.
City of Madison’s Preservation and Community Enhancement (PACE) Grant Program
Program description: The PACE Grant Program provides matching grants to eligible property owners who rehab and improve the structural integrity of dilapidated buildings within the city of Madison, Indiana. Incentive: The PACE Grant Program offers the following incentives per category: Receive a Curb Appeal Grant of up to $5,000 for improving the appearance of your residential or commercial property within the hilltop target area Receive a Rehabilitation Grant of up to $7,500 for rehabbing your downtown historic property Receive a Dangerous Buildings Grant of up to $10,000 for the full demolition of an unsafe property within the city of Madison Receive a Dilapidated Structures Grant of up to $25,000 for the partial demolition and rehabilitation of a dilapidated structure within the city of Madison General requirements: Here are some of the general requirements for this grant: Own residential or commercial property in the city of Madison, Indiana Be current on all property taxes Have no current tax liens against the property Have no current litigation between you and the city of Madison Provide willingness to execute all legal agreements Properties which previously received PACE grant funds are not eligible for additional funding for two years following the previous grant’s final disbursement of funds How to apply: Contact the PACE Review Committee or Madison’s Planning Department if you’re interested in applying.
Downtown Danville Partnership Façade Improvement Grant Program
Program description: Downtown businesses in Danville, Indiana, can receive partial reimbursements for making improvements to their storefronts and building exteriors. Incentive: Receive up to $5,000 per grant for making exterior façade improvements to your commercial property in downtown Danville, Indiana. General requirements: Here are some of the general requirements for this grant: Own a business in downtown Danville, Indiana Your business is located within the boundary of Clinton, Kentucky, Broadway, and Wayne streets Receive design approval in advance from the Town of Danville’s Design Review Committee How to apply: Go to the Downtown Danville Partnership website to submit your application online.
Who Provides Indiana Small Business Grants?
Arizona small business grants California small business grants Colorado small business grants Florida small business grants Georgia small business grants Illinois small business grants Maryland small business grants Michigan small business grants NC small business grants New York small business grants NJ small business grants Ohio small business grants Pennsylvania small business grants Texas small business grants Wisconsin small business grants
Do You Have to Pay Back a Small Business Grant?
Who Is Eligible for Indiana Small Business Grants?
What Industries Does Indiana Support With Grants?
Agriculture Food services and drinking places Hair, nail, and skin care services Landscaping services Restaurants and other eating places Retail trade (store and nonstore retailers)
Indiana Resources for SMB Owners Looking for Funding
Indiana Small Business Development Center (SBDC)
Access to market research reports at no cost Confidential business counseling at no cost Workshops and training events
SBA District Office in Indiana
Alternative Funding Sources for Small Businesses in Indiana
Indiana State Small Business Credit Initiative (SSBCI)
Indiana Angel Network Fund — $70.4 million. This program will help eligible startups access venture capital in the Hoosier State. It provides equity capital directly to startups through the Indiana Angel Network Fund alongside co-investors. Investments from the Indiana Angel Network may be made up to $1 million per company and typically require a minimum 1:1 co-investment. Indiana Loan Fund Investment Program — $28.7 million. This program can help Indiana small business owners access small business loans. This includes Indiana small businesses with fewer than 10 employees and firms owned and controlled by socially and economically disadvantaged individuals.
Indiana Microloan Lenders
Indiana SMB Loans from Private Lenders
Commercial real estate loans Equipment financing Small business loans for startups Working capital lines of credit
Find Small Business Financing With Lantern
Frequently Asked Questions
About the Author
Share this article: