$200,000 City’s Municipal Development Fund (Casino Money)
Purpose of the Program
The purpose of the Small Business Grant Program is to provide assistance to persons who desire to purchase or open a small business in the City of Lawrenceburg – primarily in the downtown business district.
- Applicant’s experience with operating a small business or expertise in the area of business proposed
- Applicant’s history in receiving a Small Business Grant from the City of Lawrenceburg
- Applicant’s need for assistance to purchase property or receive rental assistance
- Applicant is able to present a thorough and solid business plan*
- Applicant is able to commit sufficient start-up capital
- Applicant is able to demonstrate the necessity for the grant
- Business will be located in the targeted location (i.e. downtown business district)
- Business will be a targeted industry (i.e. retail, restaurant)
- Business will generate additional jobs for the community
How can funds be used?
Funds may be used to purchase property associated with the small business, rental assistance for the business, and/or to finance equipment. Inventory is not eligible for funding.
How much can be granted?
Applicants may receive up to $20,000, depending upon the requirements and criteria being met. Grants are forgiven on a sliding scale over a 24 month period and applicants will be personally responsible for re-payment of grant if business doesn’t remain open for at least 24 months.
Grant Minimum Requirements
- Applicant has sufficient start-up capital to incorporate with the grant to ensure an adequate funding base
- Applicant displays previous experience or expertise in the area of business proposed
- Applicant must supply a professional business plan for proposed business.*
- Applicant must supply three professional references
- Business must remain open a minimum of 24 months. Penalties are incurred for business that closes early.
- Business must be located in the City of Lawrenceburg. Priority consideration will be given to businesses locating in the downtown business district. Retail or restaurants will take precedence.
- Business must generate additional jobs for the community
Applicants that do not provide a business plan, proof of adequate capital, and references will be not be considered.
* If you have an existing business, your application will be evaluated based upon the management and financial performance of your business. If you are a new business visit www.soinbiz.com for assistance with developing a professional business plan or contact your local Small Business Development Center representative at (812) 537-0814.
When is the application due?
There are three rounds to the Small Business Grant Program. Applications will be due to ARa by the following dates:
Round 1: February 28
Round 2: June 30
Round 3: October 31