FHLBank Indianapolis Awards More Than $500,000 in Small Business Grants

FHLBank Indianapolis recently announced that 27 Indiana and Michigan businesses were awarded the bank's Elevate Small Business Grant for a total of $519,550 in 2021. Now in its fourth year, Elevate was developed to strengthen our communities and encourage Indiana and Michigan small businesses to grow their relationship with an FHLBank Indianapolis member financial institution.

Small businesses looking to take their success to the next level submitted applications for up to $20,000 for use towards the purchase of real property, facility expansion, workforce training, technology enhancements, and other business needs. Changes to the program prompted by the COVID-19 pandemic last year, which included additional flexibility for working capital, remained in place for the program.

A summary of the grant recipients is included below, and a more detailed list is available here: FHLBank Indianapolis 2021 Elevate recipients.

FHLBank Indianapolis Member

Business

City

State

1st Source Bank

Capacity Enhancement and Development Services, LLC

Fort Wayne

IN

Central Savings Bank

Up North Nutrition & Gym 906 LLC

Sault Sainte Marie

MI

Charlevoix State Bank

Tour Michigan LLC dba Mushroom House Tours

Charlevoix

MI

Charlevoix State Bank

Balanced Living Yoga and Fusion Studio

Boyne City

MI

Christian Financial Credit Union

Food Exchange Restaurant, LLC

Detroit

MI

Christian Financial Credit Union

Jo's Gallery 2 LLC

Detroit

MI

First Independence Bank

Nurish Brands LLC

Pontiac

MI

First Merchants Bank

Susan Ramsey Fitness LLC

Montgomery

IN

First Merchants Bank

WDi Architecture, Inc.

Indianapolis

IN

First National Bank & Trust Co. of Iron Mountain

Velodrome Coffee Company LLC

Marquette

MI

First National Bank of America

TeachUcomp, Inc.

East Lansing

MI

Flagstar Bank, fsb

Daddy's Dough Cookies

Kentwood

MI

Flagstar Bank, fsb

The Custard Company

Dearborn

MI

Flagstar Bank, fsb

UP Property Maintenance LLC

Marquette

MI

Home Bank SB

Power Up LLC

Mooresville

IN

Home Bank SB

Vidal Plastics, LLC

Evansville

IN

Home Bank SB

Studio J2 Dance

Martinsville

IN

Home Bank SB

FinMar Construction Inc.

Monrovia

IN

Homestead Savings Bank

Stirling Albion LLC dba Stirling Books & Brew

Albion

MI

Lake Trust Credit Union

Rebel Nell

Detroit

MI

Level One Bank

CedarTree Birth and Wellness dba Simplyborn

Grand Rapids

MI

 Level One Bank
 Ilera Apothecary  Detroit  MI
 Teachers Credit Union
 Sip & Share Wines  Indianapolis  IN
 The Bippus State Bank
 Nearspace Launch Inc.  Upland IN 
 The Bippus State Bank
 At the Corner Salon  Warren IN 
 The Bippus State Bank
 PM Technologies LLC  Huntington IN 
 Three Rivers Federal Credit Union
 Just Pawfect by Jenee, LLC  Andrews IN 

The Elevate grant is open to all for-profit Indiana and Michigan businesses with less than $1 million annual revenue. Applications were evaluated based on their feasibility as well the impact grants would have on the community.

Learn more about the Elevate Small Business Grant and other Community and Housing programs offered by FHLBank Indianapolis.