17 Elevate Winners Selected from Applicants Across Indiana and Michigan
INDIANAPOLIS – FHLBank Indianapolis recently announced that 17 Indiana and Michigan businesses were awarded the bank’s Elevate Small Business Grant. Now in its second year, Elevate was developed to strengthen our communities and encourage Indiana and Michigan small businesses to further develop their relationship with an FHLBank Indianapolis member financial institution.
Grant recipients submitted applications through their financial institutions for up to $25,000 for use towards capital expenditures, workforce training, and other business needs. The Elevate grant is open to all for-profit Indiana and Michigan businesses with annual revenue of less than $1 million. Applications were evaluated based on their feasibility as well as the impact grants would have on the community.
“The Elevate Small Business grant helps already successful small businesses get the boost they need to take the next step in their growth,” said MaryBeth Wott, FHLBank Indianapolis Community Investment Officer. “With this new round of recipients, we’re proud to share in the continued growth and success of small businesses throughout Indiana and Michigan.”
In total, this year FHLBank Indianapolis awarded $391,751 in Elevate grants to small businesses looking to take their success to the next level. A detailed list is available here:
In partnership with Home Bank SB, two local businesses in the Martinsville community were awarded Elevate grants. Brock Safety Consultants, LLC, and Holy Smokes Hog Roast Co. were both awarded grants totaling over $26,000. Kathy Spencer-Ellis, Vice President of Commercial Lending with Home Bank, facilitated the grant process for the bank. “We were very excited to have two Elevate recipients in just the second year of this program. They both have great plans for using these funds to grow and expand their businesses.”
Learn more about the Elevate Small Business Grant and other Community and Housing programs offered by FHLBank Indianapolis. Questions? Contact Carrie O’Connor, Senior Director of Corporate Communications 317.464.0469.
Building Partnerships. Serving Communities.
The Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis) is one of 11 regional banks that make up the Federal Home Loan Bank System. FHLBanks are government-sponsored enterprises created by Congress to ensure access to low-cost funding for their member financial institutions. FHLBanks are privately capitalized and funded, and receive no Congressional appropriations. FHLBank Indianapolis is owned by its Indiana and Michigan financial institution members, which include commercial banks, credit unions, insurance companies, and savings banks. For more information about the FHLBank Indianapolis, visit www.fhlbi.com.
Home Bank was chartered in 1890 as a mutual institution which essentially means that it is owned by its depositors. Without private ownership or stockholders, the bank’s profits are allocated entirely to its capital reserves, resulting in greater fiscal strength and resources for community support. In 2012, the bank initiated a program to gift back a percentage of its earnings to important initiatives benefitting the community it serves