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IEDC Loosens Requirements for Restart Program
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Zent highlights new laws that went into effect July 1
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Indiana is offering small businesses another $60 million collectively in grants for coronavirus relief.Â
Businesses can apply for Restart Grant funds to cover payroll, insurance, rent, mortgage payments, utilities and other expenses incurred between March 1 of last year and May 1 of this year.
Founded last May, the state-run program has provided $34 million in working capital to small business owners and entrepreneurs thus far. Indiana received more federal funds from the CARES Act to keep the program going.
âIâm grateful to the Indiana General Assembly for their supportive collaboration that made it possible to extend this program for Hoosier entrepreneurs, Gov. Eric Holcomb said. The Small Business Restart Grant program has already done a tremendous amount to get small businesses back on track, and this extended relief funding will continue accelerating our economyâs recovery.â
Small Business Restart Grant Program Expanded
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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.