Welcome to FHLBank Indianapolis’ centralized COVID-19 blog to keep our Michigan and Indiana members apprised of crucial business information, regulatory requirements, or other important updates during the COVID-19 Pandemic. We are open for business as always, and are committed to serving your needs during this time.

Don’t hesitate to contact us at memberservices@fhlbi.com with any questions or concerns.

Cindy Konich,
President and CEO 

FHLBank Indianapolis Opens 2020 Elevate Small Business Grant Program Funding Round

The Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis) announced the opening of the 2020 Elevate Small Business Grant Program with $375,000 available. You can find program information, training tools, marketing materials, along with the application at www.fhlbi.com/elevate

Important Details

  • To qualify, an eligible small business must:
    • Be headquartered in Indiana or Michigan;
    • Been in business, under current ownership, for at least 12 months, prior to June 1, 2020;
    • Have annual gross revenue less than $1 million;
    • Be for-profit business; and
    • Partner with FHLBank Indianapolis Member, found at www.fhlbi.com/member-directory
  • Small businesses can use up to $25,000 for capital expenditures, workforce training, or a variety of other needs or up to $12,500 for working capital
  • Applications are due June 1, 2020
  • Awards are announced July 15, 2020
  • Eligible expenses must occur between June 1, 2020 – January 31, 2021

Program Updates in Response to COVID-19

*With the current situation affecting the economic health of our communities, some Elevate features have been changed since Bulletin 2005-2020 Community Investments Program Update was issued. 

These changes include:

  • Allowing up to $12,500 to be applied for working capital
  • Upon notification of the award, Elevate funds will be disbursed to the FHLBank Indianapolis member, who can disburse funds to the small business after receipt of proper documentation

 

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YOUR SOURCE OF RELIABLE LIQUIDITY

Rest assured that FHLBank Indianapolis is ready and able to meet our members' liquidity needs as the coronavirus spreads.

But are you prepared from your end? 

Please review this Coronavirus Preparedness letter from FHLBank President and CEO Cindy Konich to ensure your financial institution has everything it needs to access FHLBank Indianapolis liquidity during this time.