(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
The state of Indiana is extending the application deadline and changing eligibility and reimbursement guidelines to enable more enterprises to take advantage of its Small Business Restart Grant.