Ind. (WEHT) — A bill that would create a $60 million fund for small business to help them recover from the pandemic is on its way to Governor Eric Holcomb’s desk.
“There’s been a lot of businesses who have not fared so well, and are still struggling, quite honestly,” Rep. Shane Lindauer (R-Jasper), said.
House Bill 1004 was written by Lindauer. He says the goal is to help as many small businesses as possible.
“Indiana has always been a very business friendly state, and so I think this is another way for us as a state to say we want to continue that trend,” Lindauer said. “We want to help our small businesses and small businesses have been the backbone of the Indiana economy.”
The bill would expand the Hoosier Hospitality Small Business Restart Grant Program and provide eligible businesses with a grant to cover a portion of business and payroll-related expenses.
Qualifying businesses would have revenue that is $10 million a year or less, fewer than 100 employees as of Dec. 1, 2019, and show average monthly gross revenue loss of at least 30%.
Grants couldn’t be more than $50,000 to any individual business.
According to Lindauer, the National Restaurant Association reports Indiana restaurant sales dropped 37% from August 2019 to 2020.
(This story was originally published on April 7, 2021)