E-News Updates  |   August 25, 2022

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.

  • 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

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

Hart Economic & Redevelopment Team
49 S. State St | Hart, MI  49420
(231) 301-8449 |

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