Indiana Small Business Restart Fund makes $30 million in federal funding available

IN This Together

Indiana small businesses will get access to an additional $30 million in federal funding through the CARES Act.

On Monday, June 1, Governor Eric Holcomb approved the funding for the Indiana Small Business Restart Fund.

This funding will allow small businesses to have access to restart grants, which will help "accelerate the speed of economic recovery activity by providing working capital to cover certain expenses related to the global pandemic." Eligible Indiana small businesses can seek reimbursement for up to 80 percent 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.

The application period will open Wednesday, June 3 and continue through Wednesday, September 30, 2020.

For eligibility requirements and to access the online application, visit https://backontrack.in.gov/2377.htm.