Capital for Hoosier Small Businesses

Indiana's State Small Business Credit Initiative (SSBCI) is on a mission to empower Hoosier entrepreneurs, startups, and small businesses.

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Helping Hoosier Small Businesses Succeed

Indiana's State Small Business Credit Initiative (SSBCI) is on a mission to empower Hoosier entrepreneurs, startups, and small businesses. Our goal is to provide access to capital and create ecosystems of opportunity, while promoting economic equity across the state. The IEDC is allocating $99 million to venture capital investments for early-revenue companies and establishing The Legend Fund, a loan participation program to support underserved entrepreneurs and small businesses with loans for operating capital.

Our commitment to equity is evident with at least 37 percent of our funding dedicated to traditionally underserved businesses. We are collaborating with Elevate Ventures to increase investments in underrepresented founders and work with mission-oriented lenders to provide small business owners with essential capital. By catalyzing private investment, we aim to leverage $10 for every $1 of SSBCI funding, mobilizing local and regional sources of capital to fuel Indiana's innovation and entrepreneurial ecosystem.

Stay connected with the IEDC and its partners to receive information on trainings, technical assistance opportunities, and program updates. Together we can create a vibrant and inclusive business landscape that drives economic growth.

We're creating a loan participation program to help small businesses gain access to the funds needed to help your business bloom.

The Legend Fund supports Indiana small businesses by increasing access to business loans. We know that the growth of small businesses is a vital part of Indiana’s economy and that entrepreneurs play a significant role in promoting economic development within our state.

The Legend Fund increases the amount of capital in the ecosystem for entrepreneurs and small businesses and focuses on putting capital in the hands of the historically underserved. The Legend Fund will distribute up to $29M to mission-driven local lenders to incentivize more lending to Indiana small businesses. Participating lenders manage loan terms, ensuring they align with the needs of borrowers. Pre-apply with a compatible lender today!

The Legend Fund lending partners are able to make loans between $5,000 and $1,000,000 for small business operating capital needs through the program.

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Technical Assistance Program

The IEDC wishes to improve access to capital throughout the state for the purpose of fostering and promoting the development of entrepreneurs and small businesses in historically underserved communities and supporting the Indiana economy. The IEDC has contracted with experienced technical service providers to deliver one-on-one counseling and group training opportunities to support SEDI-owned businesses and entrepreneurs and VSBs as they prepare for, apply for, and deploy obtained capital through the IEDC’s SSBCI programs.


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Success Stories

Read about some of the ways that the SSBCI has helped drive Hoosier businesses forward.

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Read more about some of Indiana’s best and brightest entrepreneurs.



What is a small business?

For the purposes of the IEDC’s SSBCI programs, participating lenders or investors are required (1) to target an average borrower or investee size of 500 employees or less, and (2) not to extend credit or investment support to borrowers or investees that have more than 750 employees.

What can Legend Fund loans be used for?

Loans can be used for most general business purposes including but is not limited to, start-up costs, working capital, franchise fees, and acquisition of equipment, inventory, or services used in the production, manufacturing, or delivery of a business’s goods or services, or in the purchase, construction, renovation, or tenant improvements of an eligible place of business that is not for passive real estate investment purpose. Full guidelines can be found here.

How will I receive Legend Fund capital?

Approved Legend Fund lenders will process loans. See “How do I find a participating lender?”

What does the process look like for obtaining a loan?

Interested small businesses and entrepreneurs can fill out their contact information and financing needs here. This will generate a list of participating lenders and programs that may meet your needs. You can then connect with your matched organizations to discuss your business financing needs.

How long does this program last?

Indiana's SSBCI programs will run until 2031 or until the funding has run out.

How do I find a participating lender?

Answer a few questions about you, your business, and your capital needs to find a list of lenders that meet your borrowing needs. Get started here!

Who can I reach out to if I need help?

If you need help planning for growth or putting together financial statements and loan documents, reach out to your local SBDC for assistance. If you are interested in connecting with a lender, click the Learn More button to get connected!”

What does socially and economically disadvantaged individual or SEDI mean?

For the full definition defined by the U.S. Treasury, visit U.S. Treasury’s guidelines posted on their website here.

What is a very small business or VSB?

A very small business is defined as a business with fewer than 10 employees.

How should I prepare to meet with a lender or investor?

The IEDC has resources available to assist with your business plan, your business financials, and more! Visit to learn how the Indiana SBDC can help your business today.

How do I become a Legend Fund approved lender?

Respond to the IEDC's RFQ found here.

How do I receive pre-seed, seed, or early-stage investment?

Businesses interested in pre-seed, seed, and early-stage investments will need to apply for funding through Elevate Ventures.

Do I qualify for pre-seed, seed, and early-stage investment?

Contact Elevate Ventures to discuss your investment needs with an experienced Entrepreneur-In-Residence.  See "Who is Elevate Ventures?"

Who is Elevate Ventures?

Elevate Ventures is Indiana's, non-profit, venture development partner.