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Economic Stabilization and Recovery Program Resources

 

Community Food Initiative

In order to provide needed stimulus to our local restaurant and food service businesses and to provide relief to area non-profit agencies serving the homeless and elderly populations, the Floyd County Board of Commissioners have developed the Community Food Initiative.

The County will be purchasing prepared meals from local restaurants and food services businesses and supplying these meals to area non-for profits serving the homeless and elderly populations. Restaurants, Food Service businesses and not-for profit groups interested in the program can call the Director of Operations and Planning office (812) 948.4110 or email: dlopp@floydcounty.in.gov .

Click here for an application for this program

Fast Track Loan Fund

The Floyd County Redevelopment Commission has approved two new loan funds through its Community Revolving Loan Fund program. These funds include the Fast Track Loan Fund and the Micro Loan Fund.

The Fast Track loan is designed to provide funding to local businesses with capital equipment purchases. These capital equipment purchases would be limited to businesses re-tooling existing production of essential medical products, equipment or materials.

Fast Track Loan Fund Application Checklist

  • Completed Application (Signature of Authorizing Officer)
  • 2018 Financial Statement
  • Profit and Loss Statement through February 29,2020
  • Certification of Good Standing from Indiana Secretary of State Office
  • 2017-19 Federal Tax Returns (2019 if already filed)
  • Indiana Articles of Corporation
  • IRS W-9 Form
  • Cost estimate for Equipment or Material Purchase

Fast Track Loan Terms 

  • Loan Limits - Up to $75,000.00*
  • Interest Rate - 0% percent
  • Prepayment Penalty - None
  • Grace Period - Six (6) months grace period from date of loan
  • Payment Period - Sixty (60) months from end of grace
  • Application Fee - Waived
  • Administration Fee - Waived
  • Loan Fee - Waived
  • Eligible Uses - Equipment or material purchases associated with re-tooling for essential equipment production
  • Eligible Borrower - Must own a business in Floyd County and employ five (5) full-time employees or less. For-profit or tax-exempt businesses negatively impacted by the COVID 19 outbreak
  • Redevelopment Commission will consider higher requests on a case-by-case basis.

Click here for an application for this program 

 

Micro Loan Fund

The Floyd County Redevelopment Commission has approved two new loan funds through its Community Revolving Loan Fund program. These funds include the Fast Track Loan Fund and the Micro Loan Fund.

The Micro Loan Fund is designed for small businesses under five employees that can show their business was disrupted due to the COVID 19 outbreak. More details are provided below or contact Director of Operations and Planning office (812) 948.4110 or email: dlopp@floydcounty.in.gov.

Floyd County Micro-Loan Checklist

  • Completed Application (Signature of Authorizing Officer)
  • Profit and Loss Statement through February 29,2020
  • Certification of Good Standing from Indiana Secretary of State Office
  • 2019 Federal Tax Returns if filed or 2018 Federal Tax Returns
  • IRS W-9 Form

Micro Loan Terms

  • Loan Limits - Up to $2,000.00
  • Interest Rate - 0% 
  • Prepayment Penalty - None
  • Grace Period - Six (6) months grace period from date of loan
  • Payment Period - Eighteen (18) months from end of grace
  • Application Fee - Waived
  • Administration Fee - Waived
  • Loan Fee - Waived
  • Eligible Uses - Working Capital Only
  • Eligible Borrower - Must own a business in Floyd County and employ five (5) full-time employees or less. For-profit or tax-exempt businesses negatively impacted by the COVID 19 outbreak

Click here for an application for this program

 

Ingenuity and Innovation Fund

The Floyd County will be developing an Ingenuity and Innovation Fund for local businesses and entrepreneurs. This fund will provide seed funding for ideas of equipment, products, or material that can be scalable and provide a long-term positive impact towards mitigating the COVID 19 pandemic. More details contact Director of Operations and Planning office (812) 948.4110 or email: dlopp@floydcounty.in.gov

Ingenuity and Innovation Application Checklist:

  • Completed Application (Signature of Authorizing Officer)
  • 2019 Financial Statement
  • Profit and Loss Statement through February 29,2020
  • Certification of Good Standing from Indiana Secretary of State Office
  • 2017-19 Federal Tax Returns (2019 if already filed)
  • Indiana Articles of Corporation
  • IRS W-9 Form
  • Cost estimate for Equipment or Material Purchase

Loan Terms

  • Loan Limits - Up to $75,000.00 *
  • Interest Rate - 0% percent
  • Prepayment Penalty - None
  • Grace Period - Six (6) months grace period from date of loan Payment Period Sixty (60) months from end of grace period
  • Application Fee - Waived
  • Administration Fee - Waived
  • Loan Fee - Waived
  • Eligible Uses - Capital Equipment and Materials Only*
  • Eligible Borrower - Must own a business in Floyd County and employ five (5) full-time employees or Less. For-profit or tax-exempt businesses negatively impacted by the COVID 19 outbreak
  • Redevelopment Commission will consist higher amounts and/or working capital requests on a case by case basis.

Click here for an application for this program