Empowering Your Business To Reach New Heights
We're creating a lender program to help small businesses gain access to the funds you need to help your business bloom.
Indiana SSBCI connects Hoosiers with potential lenders and direct investment options.
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 will increase the amount of capital granted to entrepreneurs and small businesses. The program 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. Find a compatible lender today!
Move Indiana Forward:Mission-oriented, non –traditional lenders (i.e. CDFIs, local 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.
Become A Legend Fund Lender
Interested in Securing Venture Capital Investment?In addition to the Legend Fund, The IEDC is investing in pre-seed and seed funding rounds through Elevate Ventures, Indiana’s venture development partner, to accelerate Indiana’s innovative startup ecosystem. These funds will be invested in Indiana-based companies through the Indiana Angel Network Fund alongside co-investors.
Looking to Further Your Business Through Advising, Training, or Other Resources?
The Indiana SBDC Network offers no-cost business advising, training, referrals, and a library of cultivated tools and resources to help businesses, from startup through sale or retirement, succeed.
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.
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.
Approved Legend Fund lenders will process loans. See “How do I find a participating lender?”
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.
Indiana's SSBCI programs will run until 2031 or until the funding has run out.
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!
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!”
For the full definition defined by the U.S. Treasury, visit U.S. Treasury’s guidelines posted on their website here.
A very small business is defined as a business with fewer than 10 employees.
The IEDC has resources available to assist with your business plan, your business financials, and more! Visit ISBDC.org to learn how the Indiana SBDC can help your business today.
Respond to the IEDC's RFQ found here.
Businesses interested in pre-seed, seed, and early-stage investments will need to apply for funding through Elevate Ventures.
Contact Elevate Ventures to discuss your investment needs with an experienced Entrepreneur-In-Residence. See "Who is Elevate Ventures?"
Elevate Ventures is Indiana's, non-profit, venture development partner.