NewsPublic Affairs / 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.

At WFYI, our goal is to cover stories that matter to you. Our reporting is rooted in facts. It considers all perspectives and is available to everyone. We don't have paywalls, but we do need support. So if unbiased, trusted journalism is important to you, please join us. Donate now.

 

 

Related News

Indiana Governor Candidates Set For Televised Debate Tuesday
Young Woman Continues Social Protests In Indianapolis
Indiana Providing Rental Assistance During Virus Outbreak