September 23, 2020

Indiana Expands Small Business COVID-19 Relief Program

Article origination IPBS-RJC
The Small Business Restart Grant program uses $30 million from the federal CARES Act. But, since June, the state only sent about $1 million out.  - Lauren Chapman/IPB News

The Small Business Restart Grant program uses $30 million from the federal CARES Act. But, since June, the state only sent about $1 million out.

Lauren Chapman/IPB News

Indiana is expanding a small business COVID-19 relief program after it struggled to get many Hoosier businesses to apply.

The Small Business Restart Grant program uses $30 million from the federal CARES Act. But, since June, the state only sent about $1 million out.

That’s in part because small businesses who received other federal COVID-19 relief funding were ineligible for the state’s grants. New changes to the program removed that barrier – businesses that accessed federal support like the Paycheck Protection Program can also get Restart grants.

The program, which was set to end Sept. 30, will also now run through November 1 for Marion County businesses and Dec. 1 for all other counties.

Businesses of less than 50 employees and with 2019 revenue of less than $5 million are eligible. They must also show monthly losses of at least 40 percent compared to pre-COVID revenues.

Small businesses can find more details and apply on the state's Back On Track website.

Contact reporter Brandon at bsmith@ipbs.org or follow him on Twitter at @brandonjsmith5.

Support independent journalism today. You rely on WFYI to stay informed, and we depend on you to make our work possible. Donate to power our nonprofit reporting today. Give now.

 

 

Related News

Indiana Adds Points Penalty To Hands-Free Driving Law, Increases For School, Work Zones
West Fork Whiskey Breaks Ground On New Facility, Adding To Indiana's Agritourism
Prince Albert II Of Monaco Wins Global Wildlife Ambassador Award