The City of Terre Haute Small Business Grant Program is designed to provide financial support for small businesses in the City of Terre Haute to respond to the negative impacts of the COVID-19 pandemic and to increase the economic health of the area.
Donor Name: City of Terre Haute
State: Indiana
City: Terre Haute
Type of Grant: Grant
Deadline: 05/16/2024
Size of the Grant: $10,000 to $100,000
Grant Duration: 2 Years
Details:
Understanding many small businesses and nonprofits are still healing economically from the pandemic, or growth was stalled due to the pandemic, the city wants to positively impact their ability to stabilize and ultimately grow. The program also focuses on multiple pillars of the See You In Terre Haute Community Plan, including economic development, quality of life, and talent attraction and retention. These grants are intended to help small businesses grow, support business recovery, and increase the overall resiliency of local businesses in the City of Terre Haute.
Grant Program Goals
- Retain existing businesses and employees.
- Increase revenue and employees.
Funding Information
Grant awards will be made up to a maximum of $100,000 and a minimum of $10,000. Grant amounts will be based on supporting the applicant’s goal in their application. Awardees will have 24 months to complete projects.
Eligible Uses of Funds
- Capital Expenditures
- Examples include equipment and technology.
- Infrastructure
- Examples include business façade and improvements, renovations, major repairs, expansion (including down payment for building purchase). Preference given to owned buildings and those who use local contractors
- Business Planning, Technical or Service Provider Assistance.
- An example includes utilizing an accounting service to help convert business to Quickbooks, or the set-up/implementation of a point of sale system.
- Marketing as included in budget with other items to grow expansion
- Employee Attraction – Signing Bonus
- Workforce Development – Training.
Eligibility of Applicants
- Business location must be based in the city of Terre Haute limits – City of Terre Haute limits map
- 75 or fewer full-time employees
- Locally owned and operated – this includes franchised businesses
- Business cannot be a subsidiary of a larger corporation
- Publicly traded companies are not eligible
- Must have been in operation in the city of Terre Haute since March 2022 and must still be in operation.
- Applicant business must be registered and in good standing with Indiana Secretary of State as a Business Entity, or if a sole proprietorship have a certificate of assumed business name or doing-business- as (DBA) form record from the County Recorder.
- Must disclose information on any pending litigation or legal actions
- Businesses must not be debarred, suspended, or otherwise excluded from or ineligible for participation in Federal assistance programs.
For more information, visit City of Terre Haute.
