Loan Fund Investment Program
Indiana is leveraging SSBCI to create a new small business loan fund investment program to provide more capital for entrepreneurs and small businesses, particularly for those that have been historically underserved.
Through this program, mission-oriented, non-traditional lenders (i.e. CDFIs, revolving loan funds, and other special focused lenders) that provide debt capital for qualified purposes to Indiana-based small businesses are eligible to have a portion of those loans purchased by the IEDC, enabling the loan funds to support more entrepreneurs and small businesses. To be eligible, generally speaking, loan funds (existing or newly created) must lend to Indiana small businesses (as defined by the U.S. Department of Treasury) and support underserved entrepreneurs and small businesses.
More program information and details will be finalized and announced soon. At that time, loan funds will be able to apply to participate.