Pictured: Sunshine In A Box and Wildfire348, recipients of the Elevate Small Business Grant in 2024 and 2023.
2025 FHLBI Elevate Small Business Grant
$20,000 Grant Available for Small Businesses
HHSB is proud to partner with FHLBank Indianapolis to offer the Elevate Small Business Grant to one deserving local business. This program is designed to fuel growth and development of small businesses, their workforce, and the communities in which they are located. FHLBI will award one grant of $20,000 to be used for capital expenditures, workforce training, or other eligible expenses that give small business the boost they need to take their operations to the next level.
Who Can Apply?
In order to be eligible for this grant, small businesses must:
- Be a for-profit entity
- Have been established under its current ownership since September 3, 2024, or prior
- Have 2024 annual gross revenue of $1 million or less but more than $20,000
* Residential projects, nonprofit organizations, and government entities are ineligible to apply.
What Can the Grant Be Used For?
The following are allowable or eligible uses of the Elevate grant awards. Expenses must be incurred between September 3, 2025 – March 31, 2026:
The following are allowable or eligible uses of the Elevate grant awards. Expenses must be incurred between September 3, 2025 – March 31, 2026:
- Purchase or improvement of property
- Machinery, tools, or equipment
- Workforce development or training
- Technology enhancements
- Inventory, materials, or supplies
* Ineligible uses include, but are not limited to: rent, utilities, debt payments, salaries, wages, stipends and/or other benefits for staff, whether permanent or temporary. Also, grant awards may not be used to support the purchase of a residential property or property in which the grant recipient will call their personal residence.
How to Apply?
Download an application to get started! Applications and supporting documents are due by 12 PM on August 20, 2025. Please submit to elevate@myhhsb.com or mail them to:
Download an application to get started! Applications and supporting documents are due by 12 PM on August 20, 2025. Please submit to elevate@myhhsb.com or mail them to:
Hoosier Heartland State Bank
Attn: Trent Smaltz
1671 S US Highway 231
Crawfordsville IN 47933
Attn: Trent Smaltz
1671 S US Highway 231
Crawfordsville IN 47933
* Elevate grant recipients are required to submit impact reports that include, at a minimum, a written narrative describing progress and outcomes and expense reporting detailing uses of the Elevate grant award. Reporting forms will be provided. By completing an application, the small business permits use of their name and/or logo in any publicity released by HHSB.