Indiana Expands Small Business COVID-19 Relief Program
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.