Grants and loans are available for all sizes of businesses. Whether you are looking to relocate your business to our area and you need assistance with financing or maybe you are a small to medium sized business that is struggling to obtain financing through conventional means, we can help direct you to the correct resources that will assist you with getting the grant or loan that you need.
Contact us for assistance in putting together a complete package for your business expansion, location, or relocation.
Local Grants and Loans
Industrial Revenue Bonds
Industrial Revenue Bonds, also called Economic Development Revenue Bonds provide financing for economic development projects. The proceeds from the bonds, which can be issued by a local government, are loaned to businesses to pay for buildings or other capital investment projects. The bonds must be paid back by the company. As the issuer of the bonds, the local government’s participation typically results in favorable interest rates and longer terms. Most often, these bonds are tax exempt.
CEDIT Incentive Pool
Offered as a loan or grant from the City of Fort Wayne to a company. Grants are offered to companies paying employees an average annual wage equal to or greater than the Fort Wayne MSA wage. The amount of the loan or grant is based on the number of jobs created and the average annual wages paid.
Regional Grants and Loans
Community Development Corporation
The Community Development Corporation of Northeast Indiana (CDC) is a City of Fort Wayne sponsored 501 c (6) not for profit business development organization. Our primary objective is to promote the growth and development of small commercial and industrial for profit businesses in Indiana through creative loan programs.
Small Business Development Corporation
The purpose of the Northeast Indiana SBDC is to enhance economic development in northeast Indiana by assisting new and existing small business. The SBDC is funded in part through a cooperative agreement with the U.S. Small Business Administration, the State of Indiana, and many local partners, including the City of Fort Wayne and Indiana University-Purdue University Fort Wayne (IPFW).
State Grants and Loans
Grants
21st Century Research and Technology Fund
The Indiana 21st Century Research and Technology Fund was created to stimulate the process of diversifying the State's economy by developing and commercializing advanced technologies in Indiana. The Board, representing most of the academic and commercial sectors of the State, approves awards.
Small Business Innovation Research Initiative (SBIR/STTR)
The Small Business Innovation Research (SBIR) - along with its sister program, the Small Business Technology Transfer program (STTR) - are highly competitive and encourage small businesses to explore their technological potential. SBIR/STTR funding is available from 11 participating agencies throughout the United States and focuses on various technological areas.
Industrial Development Grant Fund (IDGF)
This grant provides money to local governments for off-site infrastructure projects associated with an expansion of an existing Indiana company or the location of a new facility in Indiana. State funding through the IDGF program must be matched by a combination of local government and company financial support.
Loans
Private Activity Bonds are often called Industrial Revenue Bonds (IRBs) or Industrial Development Bonds (IDBs) and are issued by state or local governmental entities for the benefit of a private company, usually manufacturers. Interest on the bonds is generally exempt from federal income taxes for investors, which typically results in lower long-term interest rates to the borrower.
Loan Guaranty Program
IEDC can provide a loan guaranty to a lender for the benefit of a high-growth/high-skilled company, manufacturer, rural development project, value-added agricultural enterprise or another type of business that creates or retains a significant number of Hoosier jobs.
The Capital Access Program (CAP) is a small business credit enhancement program that creates a specific cash reserve fund for the lender to use as additional collateral for loans enrolled in the Program. CAP allows lenders to consider loans that might not meet conventional lending requirements.