Small Business Restart Grant
Apply for the Small Business Restart Grant.
In April 2021, Indiana announced an expansion of the Indiana Small Business Restart Grant to help accelerate economic recovery activity by supporting Hoosier entrepreneurs and small businesses. The program provides working capital to eligible companies by reimbursing certain expenses incurred during and related to the global pandemic.
Please read through all grant details, eligibility requirements, and frequently asked questions below before applying.
Grant Details
- Small businesses that meet the eligibility requirements can apply for reimbursement for qualified business expenses incurred between March 1, 2020, and May 1, 2021.
- Reimbursements for expenses may be awarded up to $10,000 for each month during that period. However, reimbursements may not exceed $50,000.
- Businesses that have already received Small Business Restart Grants – but have not reached the maximum reimbursements noted above – may re-apply during this expanded program. Expenses that were already reimbursed through this program will not be considered eligible expenses.
- Eligible businesses may apply for grant funding to cover qualified expenses incurred at their Indiana operations, such as payroll, insurance premiums, rent or mortgage payments, utilities, lease payments, and safety investments. These expenses may be reimbursed up to 80% for non-payroll expenses and up to 100% for payroll expenses.
- The program may give preference to Hoosier small businesses in the hospitality industry, but all eligible businesses are encouraged to apply.
- The deadline for applying is December 31, 2021. Eligible small businesses are encouraged to apply and submit expenses for reimbursement as soon as possible; grants will be issued in the order in which applications are received until funding is exhausted or until the program expires.
Eligibility
Registered Indiana businesses must:
- Have been established prior to October 1, 2019.
- Be registered to operate in Indiana, except sole proprietors, and must be seeking reimbursement for expenses related only to their Indiana operations.
- Be in good standing with the Indiana Department of Revenue or have entered into a payment plan approved by the Indiana Department of Revenue.
- Have had fewer than 100 full-time employees as of December 31, 2019.
- Have been profitable and have had less than $10 million in revenue (Gross Receipts or Sales) in 2019; profitability is determined by EBITDA.
- Demonstrate a monthly gross revenue loss of at least 30% compared to pre-COVID 2019 average monthly revenue; revenue loss calculated as 2019 Gross Receipts or Sales/number of months in operation in 2019.
- Please Note: Non-owner-occupied businesses are not eligible.
Eligible Expenses
Maybe reimbursed up to 100%:
- Payroll
Maybe reimbursed up to 80%:
- Insurance premiums
- Rent or mortgage payments
- Lease payments for real or personal property
- Utilities
- Safety investments
- Food delivery software service payments
Please Note: Expenses covered by another federal grant program such as PPP, EIDL, Restaurant Revitalization, or from a local government entity (CDBG) may not also be reimbursed by this grant.
Benefits
Get awarded up to $10,000 for each month during that period
Application Process
Small businesses will need to gather the following documentation to apply. You will upload these documents to the application.
Please note the application has a file size limit: you may submit up to 10 files with a 30-megabyte max. Please logically combine documentation into one upload when possible. If possible, please upload your documents in a lower quality to avoid the size limit error.
| To document eligibility: | |
|---|---|
| Registered, small Indiana business in good standing | Federal Employer Identification Number2019 Federal Tax Returns (or Federal Form 1040 with all Schedules if a sole proprietorship or home-based business)Copy of current valid driver’s license or other U.S.-issued valid IDCurrent W9 – Click here for a fillable W9All signed documents (federal loan/grant agreements) if you have received funding from other federal assistance programs. |
| Profit Loss | Monthly Profit and Loss Statement for the months you’re seeking reimbursement for in 2019, 2020, and/or 2021 – Click here for an example of a Profit and Loss Statement – This example is fillable and you can use it if you don’t already have your own. |
| Once eligible, to submit expenses for reimbursement: | |
| Expense | Documentation Required |
| Payroll | Proof of payroll expenses for wages paid to W2 employees only900 series payroll forms |
| Insurance premiums | Proof of insurance premium paymentCertificate of Insurance (COI) |
| Rent, lease, or mortgage payments | Copy of mortgage, rental, or lease agreement(s)Proof of mortgage, rental, or lease payments for real or personal property |
| Utilities | Copy of utility bills or billing statements |
| Safety purchases and improvements | Receipt of purchases and/or improvements made to increase safety. This may include personal protective equipment (PPE) and infrastructure improvements related to the health and safety of employees and/or customers. |
| Food delivery software services | Proof of restaurant delivery software expenses, including but not limited to GrubHub, DoorDash, Uber Eats, Shopify, etc. |
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| Theme | : Restart Grant |
| Applicant Country | : WorldWide |
| For more information | : Indiana |
SOURCE: https://startupxs.com/fund/small-business-restart-grant/