The City of Rushville Small Business Development Loan Program is funded by the United States Department of Agriculture, Rural Development, Rural Business Enterprise Grant program. The grant is designed to provide loan assistance as an incentive for business expansion, job retention and creation, and private investment in rural areas of Indiana. This is an Equal Opportunity Program, open to all qualified businesses located or locating within the corporate limits of the City of Rushville. The goal of the program is to help local businesses obtain capital in an effort to create or retain jobs in the City of Rushville. Small and emerging private businesses that will employ 50 or fewer new employees with less than $1 million in projected gross revenues annually are qualified to apply.
Flagship Enterprise Center
The Flagship Enterprise Center is a non-profit business incubator and an SBA microlender. As a microlender, the Center can make loans up to $50,000 to small businesses in Central Indiana. Since 2010, the microloan program has made 250 loans totaling over $7 million. Based in Anderson, Indiana, the Flagship Microloan Program reaches a 29-county region in Central Indiana. These loans can be used for equipment, working capital, inventory, and payroll. Connect with the Flagship Enterprise Center at www.FlagshipEnterprise.org.
Depending on the scope of your project, a tax abatement program may be available for your business. Business tax abatements reduce the amount of property tax paid on new construction or major improvements.
Tax Increment Financing (TIF)
Tax Increment Financing is designed to encourage new businesses and revitalize the community. Projects connected with a TIF district may be eligible for funding assistance. Contact the Rush County ECDC for more information.