City of New Haven/Brightpoint Development Fund Offer Relief for Businesses
New Haven, IN – Since July 2020, the City of New Haven and the Brightpoint Development Fund have offered relief to New Haven small business owners impacted by COVID-19 in the form of loans. Businesses are eligible to borrow up to $5,000 with a 3% interest rate.
In addition to the loans, now businesses in New Haven city limits may also be eligible for a grant of up to $10,000. These grants are for businesses that were established and operating prior to March 1, 2020. To qualify for a grant, businesses must be able to retain low-to-moderate income (LMI) full time equivalent (FTE) jobs for at least six months. The primary purpose of these grants is to provide working capital, operational funding, and support for working remotely.
Funding for this new program comes from the State of Indiana, Office of Community and Rural Affairs. Community Development Block Grant funds were redirected as part of a COVID-19 response program to address the immediate impacts of the pandemic on Indiana’s rural communities.
Information on how to apply for a loan or a grant is available at mybdf.org. For questions, businesses can call (260) 423-3546 ext. 601 or email CED@mybrightpoint.org.