The 2022 Elevate Small Business Grant round is now closed!


October 28 - Awards Announced!

March 31, 2023 - Last day to submit a disbursement request

Help 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 like Hometown Bicycles, featured in the video below, have used Elevate to help take their business to the next level.

What is Elevate?

Elevate is a small business grant program that assists the growth and development of small businesses, their workforce, and the communities where they are located. Recipients of the grant can use up to $20,000 for capital expenditures, workforce training, or a variety of other needs to get the boost that they need. A maximum of $5,000 can go toward working capital expenses.

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?

The small business applicant must be located in Indiana or Michigan, and they must partner with a FHLBank Indianapolis member to submit the application. Each small business is limited to one application.

Members open to working with at-large applicants can be found here (this list will be updated as members continue to register):

2022 Participating Members 

Applications and program materials are available below.


On this page you will find all necessary documents for the Elevate program. 

FHLBank Indianapolis Member financial institutions (Member) and the business applicants should both read the Elevate Program Guide prior to completing the application. 

Business applicants will complete the Elevate Application and submit it, along with supporting documentation, to their participating Member.  The Member will then enter the application data and documents in FHLBI.GIVES, the Banks new online system for Elevate.

To use FHLBI.GIVES, Members must register staff using the Elevate Program Registration Form.  The Form must be turned in to FHLBI by August 19th, 2022 in order to get user credentials issued by the Application Due Deadline of August 31st.

Below, under Marketing Documents, Members will find easy to use brochures as well as other helpful tools for identifying and helping business applicants.

Reminder: To qualify for the Elevate grant, eligible expenses must be incurred between October 1, 2022 and March 31, 2023.

2021 ELEVATE GRANT Recipients

The Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis) announced that 27 Indiana and Michigan businesses were awarded the bank's Elevate Small Business Grant. Click the link below to view this year's recipients.

2021 Elevate Recipients