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In 2010, after recognizing the need for more microenterprise opportunities throughout the state, IHCDA created the Business Expansion and Entrepreneurship Development (BEED) Program, with the primary goal of assisting and fostering microenterprise development through community lending.
Pairing business counseling with financial assistance, the BEED program loans business up to $10,000 for start-ups and $25,000 to expand existing businesses. The BEED program may be paired with the Individual Development Account (IDA) matched savings program as well.
IHCDA currently works with several community action agencies around the state, serving micro-entrepreneurs in 57 of Indiana's 92 counties. To apply, contact an agency in your area.
IHCDA works with community action agencies around the state to help Hoosiers better themselves through a structured matched savings program. Individual Development Accounts (IDAs) are available on a limited basis to qualified Hoosiers who are interested in improving their financial literacy and participating in a dedicated savings program where their deposited funds are matched.
Once matched, and upon completion of a detailed work plan and financial counseling, program participants may put their savings towards a qualified asset purchase. These purchases may include a higher education, a home, rehabilitation of a home, or a small business. For additional information about IDAs, please visit the information about Matched Savings Opportunities.
The U.S. Small Business Administration, established in 1953, provides financial, technical and management assistance to help Americans start, run, and grow their businesses. With a portfolio of business loans, loan guarantees and disaster loans worth more than $45 billion, in addition to a venture capital portfolio of $13 billion, SBA is the nation's largest single financial backer of small businesses.
"Counselors to America's Small Business" is America's premier source of free and confidential small business advice for entrepreneurs.
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The Indiana Small Business Development Center is a state based organization offering a wealth of free and low cost information, management counseling, and educational services designed to support Indiana small business owners and potential entrepreneurs. Our mission is to help Indiana business grow and create new jobs within the state.
The mission of Business Ownership Initiative of Indiana (BOI) and its Central Indiana Women’s Business Center program is to help men and women start or grow their own businesses by providing knowledge, skills and access to financial resources. Central Indiana Women’s Business Center program is widely recognized by small businesses and entrepreneurs throughout the 9 county Central Indiana Region. The Central Indiana Women's Business Center program is funded in part through a Cooperative Agreement with the Small Business Administration www.sba.gov This is not an endorsement of any products, opinions or services. All SBA funded programs are extended to the public on a nondiscriminatory basis.
Need an overview of starting a business? Would like to know more about SBA business financing programs? Looking for help with basic financial statements?
Read through the Indiana Small Business Resource Guide to answer these questions and more.