Information about the 2022 Elevate Small Business grant program will be made available in June 2022.

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.

Applications are no longer being considered this program. Applications will available again at the start of the 2022 Elevate program cycle.

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.

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