Purpose: The purpose of this program is to provide loans and technical assistance to small and emerging businesses while facilitating development and creating or retaining employment possibilities within the community.
Who can borrow? A loan can be made to a new or existing business. Loans will be available to applicants meeting the definition of “small and emerging private business enterprises” defined as “any private business that will employ 50 or fewer new employees and has less than $1 million in projected gross revenues.” At least 51 percent of the outstanding interest in the applicant must be owned by those who are either citizens of the United States or reside in the United States after being legally admitted for permanent residence.
Current open loan programs:
- City of Batesville- Small Business Loan Program
- City of Columbus – Small Business Loan Program
- Greensburg/Decatur County- Small Business Loan Program
- Lawrence County- Lawrence County Opportunities Loan Program
- City of Rushville/Rush County – Small Business Loan Program
- City of Salem – Small Business Loan Program
- Washington County – Small Business Loan Program
Contact ARa for more information on how to apply.