Indiana Small Business Grants
Small Businesses in Indiana shares 45% of the total economy. Indiana’s Small Business industry is owned by multiple communities.
The industry has seen a drastic change due to the coronavirus pandemic. Many small enterprises have been shut down due to lockdowns.
Businesses that have been collapsed due to coronavirus pandemic must apply for the federal grant. Many businesses have to shut down due to a lack of funds.
Money plays a vital role in running a successful business.
The money cycle has stopped due to lockdowns, irregularities in import and export, destroyed payroll, and many other reasons. All these issues can be resolved with money.
To boost the economy of the state, Indiana Small Business Grants are offered by the federal department and private entities.
Small business owners are not aware of the funding opportunities and resources available for them. For that reason, they have to shut down their business.
However, with proper information about the resources and free federal grants, they can get the required push to start a business again. Let’s find out what opportunities are available for them!
6 Best Sources to get Indiana Small Business Grants
1. Coronavirus Aid Package ( Cares Act)
The American government has started Cares Act i.e. Coronavirus Aid Package that provides loans to survive during the pandemic period.
Small businesses can apply for the forgiveness of their borrowed loan through the official website. If small businesses are unable to repay the borrowed loan, they can apply for the forgiveness of loans.
Most small businesses have been benefited from the government’s Cares Act program. Over 70% of small businesses in Indiana have availed of this loan opportunity.
Now, if they are unable to repay the loan, they can apply for the loan forgiveness. The application procedure and other required information are available on their official website.
2. Small Business Administration
Small Busines Administration is designed to support all types of businesses in America. The organization is providing a range of programs and funding opportunities to every community doing or running small businesses across the country.
Small enterprises of Indiana should also apply for the grant through SBA’s official website.
SBA has listed down plenty of opportunities for small businesses. The information about how to find out the grant, the list of the required documents, how to apply for the grant or loan, etc are given on the website with proper links to their resources.
Explore more of this platform to know more about relief packages and loans.
3. Economic Injury Disaster Loan
The Economic Injury Disaster Loan is a part of the Small Business Administration. The final date to apply for this loan is December 31st. The Covid-19 Economic Injury Disaster Laon was designed to provide financial support through low-interest loans to small businesses.
This program is available for all including the small enterprises of Indiana. Get to know more about this program, its application process, and the information about the required documents from the official portal.
4. LISC Small Business Relief Grants
LISC organization provides a range of services to small businesses. The same organization offers funding opportunities to small enterprises that are looking for financial aid.
Small business owners in Indiana should collect the information about the relief grant from their official website.
The organization has distributed $215 in grants throughout the period to over 12,000 small enterprises in America. The list includes small enterprises from all across the country as the organization is working nationally.
The organization aims to support the collapsing small businesses due to a lack of money. They provide required financial support to give the much-needed boost to small businesses.
This way many small businesses can survive and stand back on their feet. For more information about the LISC Relief Funds and Program, head over to their official website now!
5. Rapid Response Loans
Rapid Response Loans provides financial aid to small businesses affected due to the covid-19 pandemic. The platform helps small enterprise offers loans from $10,000 to $25,000.
Indiana’s small enterprises that have seen a downfall in their business, should apply for the Rapid Response Loans to get emergency financial assistance of up to $25,000.
The loan opportunity is based on the business size and the overall turnover. The gross income receipts must be attached along with the application letter. Everything you need to know about the Rapid Response Loans are given on their portal.
6. List of Grants for Small Businesses in Indiana
Indiana Small Business Grants have received a fund of over $13,000 million from the federal agencies and over $10,000 million from the private entities.
The majority of the funds that these programs have received are from federal agencies. The government is supporting the small enterprises of the countries as they are the backbone of the economy.
The official Indiana Small Business Grants portal gives you in-depth information about the established small businesses in Indiana.
Besides this, the same web page features all the resources and funding opportunities that are available for small businesses in Indiana. Visit their official website to know more about the resources and other funding opportunities.
The Bottom Line:
There are numerous resources available for Indiana’s small businesses. Since small businesses are worst affected due to the coronavirus pandemic, government and private organizations are providing financial support to such enterprises.
Financial aid helps small enterprises stand back and gives the economy the much-needed boost. Explore the available resources from the above list and find out the suitable source to fund your business now!