Indiana Small Business Grants
Small Businesses in Indiana share 45% of the total economy. Multiple communities own Indiana’s Small Business industry.
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 collapsed due to the coronavirus pandemic must apply for a 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. Money can resolve all these issues.
Indiana Small Business Grants are offered by the federal department and private entities to boost the state’s economy.
Small business owners are unaware of the funding opportunities and resources available to 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
The American government has started the Cares Act, i.e., the Coronavirus Aid Package, which provides loans to survive during the pandemic.
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 benefited from the government’s Cares Act program. Over 70% of small businesses in Indiana have availed of this loan opportunity.
If they cannot repay the loan, they can apply for loan forgiveness. The application procedure and other required information are available on their official website.
2. Small Business Administration
Small Business Administration is designed to support all types of businesses in America. The organization provides a range of programs and funding opportunities to every community doing or running small businesses nationwide.
Small enterprises in Indiana should also apply for the grant through SBA’s official website.
SBA has listed plenty of opportunities for small businesses. The website provides information about how to find the grant, a list of the required documents, instructions on how to apply for the grant or loan, and proper links to its resources.
Explore more of this platform to learn 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.
This program is available for all, including small enterprises in Indiana. Please learn more about this program, its application process, and the required documents from the official portal.
4. LISC Small Business Relief Grants
LISC provides a range of services to small businesses and offers funding opportunities to small enterprises seeking financial aid.
Small business owners in Indiana should collect information about the relief grant from their official website.
The organization has distributed $215 in grants to over 12,000 small enterprises in America. The list includes small enterprises from all across the country, as the organization works nationally.
The organization aims to support collapsing small businesses experiencing a lack of money. They provide the required financial support to give a 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, visit their official website now!
5. Rapid Response Loans
The platform helps small enterprises offer loans from $10,000 to $25,000.
Indiana’s small enterprises that have seen a downfall in their business should apply for Rapid Response Loans for 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 is on their portal.
6. List of Grants for Small Businesses in Indiana
Indiana Small Business Grants have received over $13,000 million from federal agencies and over $10,000 million from 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 established small businesses in Indiana.
In addition, the same web page features all the resources and funding opportunities available for Indiana small businesses. Visit the official website to learn 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 the worst affected by the coronavirus pandemic, government and private organizations financially support such enterprises.
Financial aid helps small enterprises recover and boosts the economy. Explore the resources listed above and find a suitable source to fund your business now!
Interactive US Map for Small Business Grants