MERRILLVILLE - Hoosier small businesses affected by COVID-19 may be able to get some help. They can apply for the Indiana Small Business Restart Grant.
Carolyn Saxton, President of the Legacy Foundation, says small businesses that qualify need to get their application in quickly as the deadline is December 1st.
"The deadline is coming up very quickly so it's really important that the businesses that think they could apply to go online to do that now," Saxton says.
The Indiana Small Business Restart Fund provides eligible Indiana small businesses the opportunity to seek reimbursement for qualified business expenses, such as rent/mortgage payments, utilities, lease payments for real or personal property, and safety investments, such as personal protective equipment (PPE) and infrastructure improvements.
Grants will be issued to reimburse qualified expenses up to $50,000 per company and will be issued in the order in which applications are received until funding is exhausted.
To be eligible business must be registered to operate in Indiana, they must have had less than 50 employees as of December 31st, 2019 (last year), they must have had less than $5 million in revenue in 2019, they must have been profitable in 2019, they must demonstrate a monthly revenue loss of at least 30% compared to pre-COVID-19 revenues and they must be in good standing with the Indiana Department of Revenue or have a DOR-approved payment plan.
