The City of Muncie, under the leadership of Mayor Dan Ridenour, is making available loans to small businesses in Muncie. These loans, which must be paid back at a very reasonable interest rate, are exclusively for small businesses that might need $1,000 – $7,500 to bridge the cash-flow gap during this COVID-19 crisis. With starting this fund, Mayor Ridenour commented, “Muncie is dependent on our small businesses. We need to do what we can to provide resources to help as many as possible.”
Funds are being made through the Muncie Industrial Revolving Loan Fund. Loan applications will be accepted starting on Monday, May 4th, and applications can be emailed to firstname.lastname@example.org. Applications can be found on the cityofmuncie.com website.
On the homepage, click, DEVELOPMENT. On that page, scroll down until you see Muncie Industrial Revolving Loan Fund. Click on this link and then scroll down until you see the link for the application. It is a fillable pdf form so you can complete it on your computer and email it from there.
Please answer all the questions you can. This application has not been adapted for this loan process, but it will serve as one for this purpose. If you have any difficulties or questions concerning the application, please contact Ted Baker at the Innovation Connector for assistance: 765-285-4902 M-F, 8 am-4 pm.
An additional funding opportunity will be announced soon from the Community Development Fund. More will be posted on that when more details are available.
We are proud of the City of Muncie for including small businesses as a priority during this difficult time!