Elevate Small Business Grants

Supporting your small business customers

Small businesses are the foundations of our communities, and together with our members, we want to help them thrive with the FHLBank Indianapolis Elevate grant.

We believe that strong small businesses generate more economic opportunities for everyone. With an Elevate grant, our members can help their small business customers expand or train new or retain existing workers.

Small businesses throughout Indiana and Michigan have used Elevate to help fund training and professional development opportunities, technological enhancements, new or upgraded equipment and more.

2026 Round

Key dates:

Notice of Intent due Sept. 4
Applications due Oct. 1
Awards announced Oct. 22

The program kickoff webinar on March 3 provided additional information on the upcoming round, including funding amounts, requirements and deadlines. A recording is available on the Community Investment Programs page.

What is Elevate?

Elevate is a grant program that assists the growth and development of small businesses, their workforce and the communities in which they are located. Grant recipients may receive up to $20,000 for capital expenditures, workforce training or other expenses to get the boost they need to take their business to the next level.

This grant is designed to benefit FHLBank Indianapolis members and their customers by strengthening relationships they already have. That’s a win for everyone involved!

Who can apply?

Elevate has undergone some changes this year and is no longer a competitive program. FHLBank Indianapolis members may submit funding requests of up to $20,000 on behalf of a small business, or two requests of up to $10,000 each on behalf of two small businesses, for a maximum per-member cap of $20,000.

The full list of requirements can be found in the Elevate Small Business Grant program guide linked below.

Getting started with Elevate

How do FHLBank Indianapolis members access Elevate funds?
To participate in Elevate in 2026, FHLBank Indianapolis Members must first submit the Elevate Master Agreement/Registration form to housing@fhlbi.com by September 4th. The Master Agreement will act as the member's Notice of Intent (NOI). Upon receipt, the Bank will issue the member login credentials to access .GIVES. Applications can be entered in .GIVES starting September 7th, and no later than October 1, 2026.

Application documents for small businesses will be provided to the member upon receipt of the Master Agreement.

*Submission of the Master Agreement does not obligate the member to submit applications for funding.