Statewide – Governor Eric J. Holcomb announced a significant expansion of the Indiana Small Business Restart Grant that will add $60 million to the program, tripling the total allocation, and allow small businesses to seek reimbursement for eligible expenses incurred between March 1, 2020, and May 1, 2021.
Small businesses that meet the eligibility requirements can apply for reimbursement of qualified business expenses incurred at their Indiana operations between March 1, 2020, and May 1, 2021. These qualified expenses include payroll – which may be reimbursed up to 100% – and non-payroll expenses, such as insurance premiums, rent or mortgage payments, utilities, lease payments, food delivery software service payments, and safety investments, which may be reimbursed up to 80%.
Indiana adds $60 million to virus aid fund
State s Restart Grants reimburse expenses for small businesses
SHERRY SLATER | The Journal Gazette
Indiana officials have added $60 million to a fund created last year to help small businesses rebound from coronavirus pandemic shutdowns, the state announced Wednesday.
The Indiana Small Business Restart Grant s allocation was tripled with the addition of federal CARES Act dollars, Gov. Eric Holcomb announced.
“I m grateful to the Indiana General Assembly for their supportive collaboration that made it possible to extend this program for Hoosier entrepreneurs,” he said in a statement.
Since the program launched in May 2020, the state has issued $34.5 million in grants to 1,644 small businesses in 85 counties. Of the recipients, 190 – or almost 12% – are certified minority-owned and women-owned businesses, officials said.
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Indiana adds $60 million to small business support grants By: Maura Johnson
Indiana Governor Eric Holcomb announced today that $60 million will be added to the Indiana Small Business Restart Grant program to help small businesses recover financially.
The program, which was first announced in May 2020, is designed to speed up economic recovery by giving grants to entrepreneurs and small business owners in Indiana.
These businesses can receive reimbursement for eligible expenses acquired between March 1, 2020 and May 1, 2021. These expenses include payroll and non-payroll expenses like rent or mortgage, utilities, insurance premiums, food delivery software service, lease payments, and safety investments.
This $60 million addition triples the total amount of money being distributed to small businesses. The state initially issued $34.5 million in grants.
(photo courtesy of NFIB)
Posted:
Apr 7, 2021 / 03:59 PM EST
INDIANAPOLIS (Inside INdiana Business) The Indiana Economic Development Corp. has announced what it is calling a “significant expansion” of a program to help small businesses recover from the coronavirus pandemic.
The expansion will add $60 million to the Indiana Small Business Restart Grant, allowing businesses to seek reimbursement for certain expenses incurred from March 2020 through May 2021.
As part of the program, eligible small businesses can apply for funding to reimburse payroll expenses, as well as non-payroll expenses such as insurance premiums, rent or mortgage payments, lease payments, utilities and safety investments.
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