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. Your customers can use up to $10,000 for working capital and up to $20,000 for capital expenditures, workforce training, or a variety of other needs to get the boost that they need.

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

Who can apply?

The small business must be located in Indiana or Michigan, and they must be sponsored by an FHLBank Indianapolis member to complete the application. Each small business is limited to one application. Below is a list of FHLBank Indianapolis members that have requested to be publicly listed as Elevate application sponsors. This list will update throughout the Elevate application cycle. Other FHLBank Indianapolis members (who may participate in the program but are not actively seeking applicants) can be found in the Member Directory.

View members sponsoring Elevate applications

View our Member Directory


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

To qualify for the Elevate grant, eligible expenses must be incurred between June 1, 2021 and January 31, 2022.

Member financial institutions and applicants should both read the Elevate Program Guide prior to completing the application. 

Members must submit the Elevate Master Agreement when submitting an application. Only one Master Agreement is required per member no matter how many applications are submitted.


The Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis) announced the opening of the 2021 Elevate Small Business Grant Program with $500,000 available. You can find program information, training tools, marketing materials, and the application below.