Supporting Small Businesses Hit Hard by Pandemic
Small businesses are essential partners in boosting our state's economy. That's why I voted to advance legislation that would establish the Hoosier Hospitality Small Business Restart Grant Program, to support Indiana's jobs and economy until our state is fully open again.
Based on a recent survey from the National Federation of Independent Business, a growing number of small-business owners are worried about their business viability in 2021. Through this grant, struggling businesses experiencing significant losses due to the pandemic, like those in the tourism and hospitality industries, would be eligible to receive funding.
The Hoosier Hospitality Small Business Restart Fund builds on the state's existing efforts to help local businesses keep their doors open and bounce back faster. These funds would be an extension of the existing Small Business Restart Program, and would continue to be administered by the Indiana Economic Development Corp. Small businesses that qualify could use state funds for a portion of business and payroll expenses.
House Bill 1004
Authored by: Rep. Shane Lindauer.
Co-Authored by: Rep. Sharon Negele, Rep. Alan Morrison, Rep. Cherrish Pryor.
Sponsored by: Sen. Ryan Mishler, Sen. Mark Messmer, Sen. Travis Holdman.
Small Business Restart Grant Program
Establishes the Hoosier hospitality small business restart grant program (program) to provide grants to eligible entities to accelerate economic recovery from the impacts of the coronavirus disease (COVID-19) pandemic.
Establishes the small business restart grant fund (fund).
Provides that the Indiana economic development corporation (corporation) administers the program and fund.
Provides criteria for grants.
Allows the corporation to award grants from the fund.
Makes an appropriation.
Note: This is an editorial piece contributed by State Representative J.D. Prescott.