2022 Elevate Program
DUE: August 31, 2022
Businesses may apply for up to $20,000 for eligible expenses such as property acquisition, equipment, technology enhancements, facility expansion, business loan closing costs and workforce training. Businesses must apply with a partner FHLBank Indianapolis member financial institution, have been in operations for at least 12 months and have annual revenue less than $1 million. Applications are due August 31st.
In 2021, a wide variety of place-based businesses were supported through this program including businesses located in Sault Ste. Marie, Charlevoix, Boyne City, Detroit, Royal Oak, Marquette, East Lansing, Dearborn, Albion and Grand Rapids.
Additional information about the program including website links is below:
FHLBank Indianapolis Small Business Grant Program
- Small business must partner with a FHLBank Indianapolis member financial institution to submit an application
- $20,000 maximum request per application, $5,000 cap on working capital requests
- Eligible uses of grant funds:
- Acquisition of real property (land, buildings, offices, warehouses, etc.)
- Acquisition or repairs of machinery or equipment
- Technology Enhancements
- Facility expansion
- Business loan closing costs
- Workforce development training
- Up to $5,000 can go to operating costs
- To be eligible, the small business must:
- Applications due August 31
- Awards announced October 28
We ask that any interested business please review the 2022 Elevate Program Guide.
For small businesses that need help in identifying an FHLBank Member: We recommend that the small business approach their current financial institution first (if they are a FHLBank member). If they do not currently bank with a FHLBank member, they should consider approaching a FHLBank member that has a presence in the area (as in they have a branch or office in the area). If they need help identifying a FHLBank member after attempting these steps, please provide them with my contact information