Elevate Small Business Grant



Help your small business grow by receiving grant money through Elevate.

The Federal Home Loan Bank of Indianapolis believes small businesses are the fabric of our communities, and strong small businesses generate more economic opportunities for everyone.

What is Elevate?

The Elevate small business grant assists the growth and development of small businesses in Indiana and Michigan. Small businesses can use the grant money (up to $20,000) for capital expenditures, workforce training, working capital, or a variety of other needs as outlined in the Elevate Program Guide.

Elevate Grant Information Request


Who can apply?

  • For-profit businesses located in Indiana or Michigan;
  • Under current ownership for at least 12 months prior to April 30, 2024; 
  • Avg gross revenue of at least $20,000 but less than $1 million for 2022 and 2023; and
  • Partnered with a FHLBank Indianapolis member

2024 Funding Total:  $1,000,000
Maximum Grant of $20,000 can be used for:

  • Purchase of real property
  • Improvements to property (owned)
  • Facility expansion
  • Machinery, tools, or equipment costs
  • Workforce development or training costs
  • Technology enhancements
  • Working Capital