Indiana extends deadline, expands eligibility for Tiny Company Restart Grant | Northwest Indiana Business enterprise Headlines

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The point out of Indiana is extending the application deadline for its Tiny Small business Restart Grant, and altering the eligibility and reimbursement guidelines, to permit a lot more coronavirus-impacted enterprises to choose edge of the $30 million method.

Gov. Eric Holcomb not too long ago introduced compact corporations in all 92 counties, which includes Northwest Indiana, are qualified to implement for the COVID-19 recovery funding grants by means of Jan. 22, 2021.

In addition, companies with between 51 and 75 complete-time associates can now implement, payroll and coverage high quality payments are eligible for reimbursement, and reimbursable fees may possibly have been incurred up to Dec. 1.

“To restart Indiana’s financial motor, it is significant that we give Hoosier firms and business people with the help they will need to grow and get again on monitor,” Holcomb claimed.

The grant method awards up to a utmost of $50,000 to reimburse suitable organization charges, this kind of as hire or house loan payments, utilities, lease payments and protection investments, in addition to payroll and insurance policies premiums.

To qualify, organizations ought to be registered to work in Indiana, be in fantastic standing with the Department of Revenue, have turned a profit previous year, and have experienced much less than 75 employees on Dec. 31, 2019 and much less than $5 million in 2019 revenue.

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