Grants and Incentives

Loan Guaranty Program

 

IEDC can provide a loan guaranty to a lender for the benefit of a high-growth/high-skilled company, manufacturer, rural development project, value-added agricultural enterprise or another type of business that creates or retains a significant number of Hoosier jobs. IEDC recommends that you contact your lender to determine if this program is right for you.

IEDC's Guaranty Program is flexible and can be tailored to meet the needs of many Indiana businesses. The guaranty is often used creatively by the lender in conjunction with other funding sources and enhancement programs. All Loan Guaranty requests are approved by the IEDC Board.

For rural development and value-added agricultural projects, the guaranty is $300,000. The guaranty for high-growth/high-skilled companies and manufacturing projects may be up to a maximum of 75%-90% of the principal balance of the loan, depending on the collateral.

IEDC has participated in the funding of more than 83 loans PROVIDING OVER $84 MILLION IN GUARANTEED LOANS to Indiana businesses.

The Agricultural and Rural Development Project Guaranty Fund has also been used to guarantee seed capital for microloan programs, assisting rural companies and helping communities establish strong microloan programs.

Contact Information

Mailing Address:

Indiana Economic Development Corporation
One North Capitol, Suite 900
Indianapolis, IN 46204
(317) 233-9138 Phone
Office Hours: Monday - Friday
8:00 am to 5:00 pm

Contact:

Matt Tuohy, Program Manager, (317) 233-9138

Comparing the cost to do business in New York with Indiana showed that the best place for us to grow our business was here at home.

-Gregg Baumbaugh, chief executive, FlexForm Technologies