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This landing page includes information for businesses seeking an Indianapolis Small Business Recovery Grant for Minority, Immigrant and Women-owned Businesses. Before proceeding, it is recommended that individuals thoroughly read this for information and check back frequently for updates. Below you'll find:
LISC is one of the country's largest social enterprises supporting projects and programs to revitalize underserved communities and bring greater economic opportunity to residents. We invest in affordable housing, quality schools, safer streets, growing businesses and programs that connect people with financial opportunity. In response to the pandemic, we are delivering resources and expertise to support communities, businesses and people. Learn more here.
Awards will be made through a competitive process to qualified businesses meeting eligibility requirements based on, among other things, an accurate and complete submission, having 10 or fewer employees, being located in an eligible geography and being women, minority or immigrant owned. Qualified businesses will then be reviewed through a competitive process including a review panel in order to select finalists based on available funding.
Non-profit organizations are ineligible for this particular pool of relief funding. Be sure to check LISC’s Covid-19 Resource Page: https://www.lisc.org/covid-19/covid-resources/ for the latest resources available to nonprofit organizations and individuals.
Directors, officers, and employees of LISC and sponsors, and such individuals' family members (spouse, parents, children, grandchildren, great-grandchildren, and spouses of children, grandchildren, and great-grandchildren) are not eligible to apply or seek an award.
If awarded, please be advised the business/applicant may be contacted by LISC and/or the sponsor of the grant for promotional purposes.
LISC may monitor and conduct evaluation activity funded by the Small Business Grant for Minority, Immigrant and Women-owned Businesses. This might involve a review of quantitative or qualitative data needed to understand the impact of the fund.
Finalists will be notified by email and must respond promptly. The return of any grantee notification message or document as undeliverable may result in disqualification of the applicable grantee, the forfeiture of his or her interest in the grant and the selection of a substitute from among all remaining eligible finalists.
All taxes associated with the acceptance and/or uses of cash awarded are the sole responsibility of the individual grantees. Cash awarded will be reported by LISC to the IRS as LISC deems necessary according to applicable law. It is further the policy of LISC that all LISC grantees be advised to consult with their own tax professionals and/or legal counsel to ascertain the tax impact of the cash awards. LISC will issue a Form 1099 for any grant of $600 or more. The Grantee shall fully comply with all applicable federal, state, local (and any other governmental) laws, executive orders, rules, and regulations in connection with its use of grant funds.
What are the size of the awards?
Grants will be made in the amounts of $5,000.
Can I change my application after it’s been submitted?
No, you cannot change the application once it’s been submitted. It is recommended that before completing and submitting the online form, respondents save their answers in a separate backup document, as your work may not be saved if you leave the web page before submitting the application. You may also lose your work if your internet is disconnected, or as a result of other potential web browser issues. We cannot accept changes to your application once it has been submitted, so please review it carefully.
Do grant applicants receive a confirmation that they submitted their application?
Every applicant receives a confirmation screen that follows if all fields are filled out correctly and after hitting "done".
What is the grant timeline?
The application will open on June 9 at 12 PM EST and will close the sooner of June 13 at 11:59 PM or 1,000 applications have been submitted. Applications will be notified about the status of their application in late June or early July.
I applied for round 1 of this program but did not receive an award. Is my application automatically considered for round 2 or do I need to reapply? Prior applications will not be rolled into round 2. To be considered for round 2, businesses must submit a new application.
How will awardees be notified?
Individuals who are not selected as finalists will receive an email to let them know as well as a list of other small business resources that are available to potentially assist them. Finalists will be notified to submit some additional documentation before award finalization. Be sure to check email regularly, including spam folders.
Will there be additional documentation required?
If your business is selected as a finalist, you will be notified via email. Being selected as a finalist does not guarantee you will receive a grant. As a finalist, additional documentation will be required to screen and verify business information for due diligence, which is required by the funding source. This may include a background search that we will conduct and submission of additional information to include verification information such as SSN, TIN/ITIN, EIN, W-9 and appropriate banking information in order to receive funds via ACH if awarded.
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