INSBP Program Requirements
To participate in the program, a business must generate no more than $10 million in annual gross receipts averaged over the last two years and must meet at least one of the following criteria:
- Be registered as a domestic business with the Indiana Secretary of State.
- Pay a majority of its payroll, in dollar volume, to Indiana residents.
- Employ Indiana residents as a majority of its employees.
- Make significant capital investments in Indiana.
Significant Capital Investment
Any company that can demonstrate a minimum capital investment in Indiana of $5 million or more in plant and/or equipment or annual lease payments in Indiana of $2.5 million or more shall qualify for the Indiana Small Business Program.
You must include with your Indiana Small Business Program application evidence showing for real property and equipment:
- The total purchase price of the real property and equipment.
- Official documentation of the value of capital expenditures.
- Copies of
- purchase agreements and
- Department of Local Government Finance assessment records.
For leases you must provide official documentation showing the total lease payments for the past 12 months.