Indiana Secures Up to $99 Million to Accelerate Startup and Small Business Growth

The Indiana Economic Development Corporation has announced the state will receive up to $99.1 million in federal funding through the State Small Business Credit Initiative (SSBCI) to expand access to and increase capital for Hoosier entrepreneurs, startups and small businesses. The news release said Indiana is one of the first 14 states and territories to be approved by the U.S. Department of Treasury for this iteration of the program established in 2010 and reauthorized and funded through The American Rescue Plan Act in 2021. “As a state, Indiana is strategically focused on creating the economy of the future and investing in the jobs of tomorrow and taking Indiana’s Top 40 Global Entrepreneurship Ecosystem to a Top 5 Ecosystem is an essential goal of that initiative,” said Indiana Secretary of Commerce Brad Chambers. “This SSBCI award will inject critical funding and resources into our ecosystem of current and future entrepreneurs, startups and small businesses who are solving global challenges, creating new technologies, and positively impacting Hoosier communities statewide.” Here’s a link for more information.