Indiana Expands, Extends Small Business Restart Grant Program

More Hoosier small businesses impacted by the COVID-19 pandemic will now be able to apply for grant assistance from the state thanks to a deadline extension and expanded eligibility.

The Indiana Small Business Restart Grant, which provides working capital to accelerate economic recovery, is now:

• Extended through Nov. 1, 2020, for eligible small businesses in Marion County;
• Extended through Dec. 1, 2020, for eligible small businesses outside of Marion County; and
• Available to small businesses that have received COVID-19 relief funding through federal programs, including the Paycheck Protection Program, Economic Injury Disaster Loans and Community Development Block Grants.

These changes aim to increase the number of small businesses utilizing the program and the award amount that eligible businesses may be qualified to receive. Extending this program will allow approved small businesses that have not received the maximum award of $10,000 to now seek reimbursement for qualified business expenses incurred in additional months – October and November 2020.

To be eligible for this grant program, businesses must:

• Be registered to operate in Indiana;
• Have had less than 50 employees as of Dec. 31, 2019;
• Have had less than $5 million in revenue in 2019;
• Have been profitable in 2019; and
• Demonstrate a monthly revenue loss of at least 40% compared to pre-COVID-19 revenues.

Indiana small businesses that meet the eligibility criteria are encouraged to review program details and apply online at BackOnTrack.in.gov.