Stabilization Fund for Small Businesses
More than 100 Businesses to Benefit from Hamilton County Stabilization Fund
Nearly $750K to Be Disbursed to Those Forced to Close during Pandemic
The Hamilton County Stabilization Fund for Small Businesses has selected the following small businesses to receive funds in response to the COVID-19 pandemic.
Recognizing the need to provide support to strengthen our local businesses and communities, Hamilton County is providing $250,000 in economic development funds to provide grants to eligible small businesses. Eligible applicants may apply for up to $10,000 in forgivable grant funding. This program is designed for small local businesses that were forced to closed due to the COVID-19 crisis - restaurants, bars, hair salons, small retail establishments, etc. - and haven’t been helped through other governmental funding sources.
To apply, businesses in Hamilton County must meet these requirements:
- Must be in good standing regarding state and local taxes, licenses, and code compliance
- Must be locally owned and not by an out of state corporation
- Must be in good standing with the Indiana Secretary of State
- Must have been established and operational in Hamilton County for at least the previous 6 months. Businesses that have expanded to a storefront from another business are eligible (e.g., an established caterer who opened a restaurant or an online retailer who opened a boutique)
- Eligible uses of funds: payroll (exclusive of owner compensation), utilities, rent, mortgage payments, insurance, advertising, or similar expenses, and products directly used in production of a product for sale
- Any national, state, or local elected office holders with business interest will not be eligible
- Preference will be given to businesses that have:
- NOT received abatements, loans, grants, or incentives from the federal government, State of Indiana, or any local government entity
- made all reasonable efforts to keep employees employed during the recovery process.
Submission of a grant application is not a guarantee of funding. Applications will be reviewed and kept confidential by the 3-member selection committee, which will be appointed by the Hamilton County Council, Hamilton County Board of Commissioners and the Hamilton County Auditor.
Applications will be accepted beginning Monday, May 11th, 2020 at 3:00 p.m. Applications will be accepted until 4:30 p.m. Friday, May 22.
Emails regarding status of an application cannot be answered due to the anticipated high volume of applications to be submitted; only applicants who receive funding will be informed of their final application status.
For questions about the program or application process, please contact the Program Administrator at: HCSBRGA@hamiltoncounty.in.gov