Legislation supporting jobs, employers and economic recovery by investing $60 million to expand the Hoosier Hospitality Small Business Restart Grant Program is now law, according to State Rep. Donna Schaibley (R-Carmel).
Schaibley
“Whether you are in Whitestown, Carmel, Westfield or Zionsville, small businesses call these communities and many others home,” Schaibley said. “It takes a tremendous amount of grit and persistence to keep a business thriving, and this grant program can provide local employers much-need relief, as they continue to recover from the COVID-19 pandemic.”
Schaibley said many businesses across the state have been negatively impacted by the pandemic, especially those in the tourism and hospitality industry, with the National Restaurant Association reporting Indiana restaurant sales dropping 37 percent from August 2019 to 2020. This new law provides eligible small businesses a grant to cover a portion of business and payroll-related expenses.
Eligible recipients include those whose revenue is $10 million a year or less and with fewer than 100 employees as of Dec. 31, 2019, and they must show average monthly gross revenue loss of at least 30 percent. Grants cannot be more than $50,000 to any individual business. Eligible small businesses may apply until Dec. 31, 2021, but are encouraged to apply and submit expenses for reimbursement as soon as possible, as grants will be issued in the order they are received until funding is exhausted.
Schaibley said this grant program is an extension of the already existing Small Business Restart Program and would continue to be administered by the Indiana Economic Development Corp. Originally, the program was started with federal COVID-19 relief dollars.
For more information, about this grant program visit StayINBiz.org.