INDIANAPOLIS — Help is on the way for Indiana small businesses after Gov. Eric Holcomb signed a bill into law.
Small businesses could receive up to $10,000 a month with a cap of $50,000 total, thanks to funds from the federal Cares Act.
To qualify, businesses must have fewer than 100 employees, gross revenue of less than $10 million in 2019 and show they’ve lost at least 30% in monthly revenue. Businesses can still qualify even if they received grants or PPE funds.
“Their livelihoods are truly on the line. It could be a godsend for many of those companies,” said Adam Berry, vice president of economic development and technology for the Indiana Chamber of Commerce.
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