Small Business Grants Available

Henry County has secured grant funds for COVID-19, Phase 3 Supplemental Grants for Small Businesses.

Henry County is offering a grant program for small businesses that have been impacted by the COVID-19 pandemic. Applications are due at the close of business on April 26. The total amount available is $240,000 and the maximum grant request is $10,000. The grant can be used for working capital, continuing operations, and supporting remote work.

WHO: For-profit businesses located in Henry County
· Gross receipts less than $1 million per year
· Small Businesses (100 employees or less)
· 51% of employees retained are low to moderate income on an aggregated basis.
· Microenterprises (5 employees or less, one must be the owner)
· Low to moderate income owner, or 51% of employees retained are low to moderate income.
· Business must show why funds will enable businesses to recover from the ongoing need related to COVID-19 or how funds will build resiliency for future pandemics
· Preference given to locally owned businesses
· Preference given to Minority- Women- and Veteran-owned businesses

WHAT: Grant program to retain jobs, 51% of which will be for persons who are low to moderate income.
· Grant amount –up to $10,000 per business

HOW: Fill out application that is available HERE
· Complete the application, and include a W9 form.
· Funding comes from the Indiana Office of Community and Rural Affairs (OCRA) who provided funding for the COVID 19 Response Phase 3 Supplemental program.

WHEN: Grant applications will be available April 18, 2023
· Applications are to be submitted to the EDC by 4:00pm on Wednesday, April 26.
· All applications received before that date will be considered filed at the same time
· Subsequent applications will be considered on a first come, first served basis as long as funds are available
· This funding is available for only a short time and must be paid out per funding agency requirements
· Scanned and emailed applications as well as digital signatures will be accepted
· The business will commit to remain open or reopen and retaining stipulated number of employees as well as additional grant reporting (June/July 2023 and June/July 2024)

CRITERIA: Grant approval decisions will be based on the ability of the business to demonstrate that a grant is necessary to retain low to moderate income employees, that the grant will have a positive impact on employment, and that the business was viable before the public health crisis.
· Businesses will qualify based upon the retention of jobs held by low to moderate income individuals.