Elevate Small Business Grants

With an Elevate grant, our members can help their small business customers expand, offer workforce development, create jobs, and more.

The 2022 Elevate Small Business Grant round is now closed.

Important Dates:
Oct. 28, 2022 - 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 throughout Indiana and Michigan 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?

Only small businesses located in Indiana or Michigan may apply, and they must partner with a FHLBank Indianapolis member to submit the application. The full list of requirements can be found in the Elevate Program Guide found below.

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

Participating Members

Program materials are available below.

Program Materials

Below, you will find all the necessary documents for the Elevate program.

FHLBank Indianapolis Member financial institutions (Members) 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.

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

Reminder: Eligible expenses must be incurred between Oct. 1, 2022, and March 31, 2023.