Hamilton County establishes stabilization fund to help small businesses

Coronavirus

HAMILTON COUNTY — Officials in Hamilton County announced Monday that a stabilization fund for small businesses has been established to help small local businesses forced to close during the COVID-19 pandemic.

Grants of up to $10,000 per business will be awarded based on “demonstrated need.”

“The grants are meant to help small businesses hit hard by government-mandated shutdowns,” says Councilman Fred Glynn, who brought forth the idea. “Fortunately, because county government is managed in a fiscally responsible manner, we are able to invest back in our community in times of crisis.”

Officials say businesses eligible for the Hamilton County Stabilization Fund must:

  • Be in good standing with regard to state and local taxes, licenses and code compliance.
  • Be locally owned and not by an out of state corporation.
  • Be in good standing with the Indiana Secretary of State.
  • Have been established and operational in Hamilton County for at least the previous six months. Businesses that have expanded to a storefront from another business are eligible (e.g., an established caterer who opened a restaurant or an online retailer who opened a boutique).

Hamilton County officials say grants may be used for “payroll (exclusive of owner compensation), utilities, rent, mortgage payments, insurance, or similar expenses, and products directly used in production of a product for sale.”

Preferences for grants will be given to businesses that have not received abatements or incentives from the federal or state government, or any local government entity, and also to businesses that made all efforts reasonable to retain employees during the pandemic.

Applications must be submitted by the close of business on May 22.

Click here to apply for the Hamilton County Stabilization Fund.

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