Financing
Muncie Industrial Revolving Loan Fund
This program offers up to thirty-three percent (percent) of a project cost up to $450,000 for projects that create or retain jobs. Funds can be used for the purchase of fixed assets or working capital. Applicants are required to provide a detailed business plan. The MIRLF loan is subordinated to that of a private lender and the interest rate is fixed. The program is administered by the Muncie Industrial Revolving Loan Fund Board, and funds can be used by businesses in the City of Muncie and the Industria Centre Industrial Park.
Rural Revolving Loan Fund
Funds can be used for the purchase of fixed assets or working capital. Applicants are required to provide a detailed business plan.
21st Century Research and Technology Fund
The Indiana 21st Century Research and Technology Fund was created to stimulate the process of diversifying the State’s economy by developing and commercializing advanced technologies in Indiana. The Board, representing most of the academic and commercial sectors of the State, approves award. click for more information
Economic and Community Development Resource Guide
The Economic and Community Development Resource Guide is a comprehensive list of contact information for local, regional, statewide, and national economic and community development organizations and useful information resources available in the state of Indiana. It is updated annually and can be downloaded or browsed on the Ball State University website.
Tax-exempt Bonds
Private Activity Bonds are often called Industrial Revenue Bonds (IRBs) or Industrial Development Bonds (IDBs) and are issued by state or local governmental entities for the benefit of a private company, usually manufacturers. Interest on the bonds is generally exempt from federal income taxes for investors, which typically results in lower long-term interest rates to the borrower. click for more information
Small Business Innovation Research Initiative (SBIR/STTR)
The Small Business Innovation Research (SBIR) — along with its sister program, the Small Business Technology Transfer program (STTR) — are highly competitive and encourage small businesses to explore their technological potential. SBIR/STTR funding is available from 11 participating agencies throughout the United States and focuses on various technological areas. click for more information
Venture Capital Investment Tax Credit
The Venture Capital Investment Tax Credit was established to improve access to capital to fast growing Indiana companies by providing individual and corporate investors an additional incentive to invest in early stage firms. Investors who provide qualified debt or equity capital to Indiana companies receive a credit against their Indiana tax liability. click for more information