Albion, IN – A new round of COVID-related funding to assist small businesses operating in Noble County has been announced.

The Noble County Economic Development Corporation will administer the Noble County COVID Recovery Grant Program and distribute nearly $200,000 in small business grants. Grants are intended to provide rapid access to working capital to for-profit businesses that operate in Noble County and employ 0-50 workers. Eligibility will be based on an applicant’s ability to document a significant loss in revenue or income as a result of the COVID-19 pandemic and/or related stay-at-home orders, where funds will be used to help retain employees, add jobs, and/or enhance a business’s long-term sustainability.

In 2020, the EDC administered the COVID-19 Micro-Grant Program and distributed nearly $95,000 to 45 locally owned small businesses. During that first round of funding, businesses targeted for support were those who employed 0-25 people. In this new round of funding, grants will be targeted to those employing up to 50 people, with priority given to smaller companies, as well as Minority/Woman/Veteran-owned businesses.

Like the micro-grants awarded in 2020, the 2021 grant program is made possible by an agreement between Noble County and the Indiana Office of Community and Rural Affairs (OCRA), with funding from a Community Development Block Grant. Applicants must provide documentation of lost revenue or reduced income related to the pandemic, as well as how funds will be used to retain or add jobs, and/or help the business enhance sustainability.

According to Indiana’s Quarterly Census of Employment and Wages, Noble County is home to nearly 900 businesses, of which about 90 percent employ fewer than 50 people. Nearly 70 percent employ fewer than nine people. Small businesses are a major driver of Noble County’s economy and income levels in the county are the second lowest in the region. 

“The opportunity for the EDC to work with the county and OCRA to deliver financial assistance to keep our small businesses thriving is critical,” explained Gary Gatman, director of the EDC. “We hope this program will help more locally owned small businesses expand their digital presence and make other improvements to enhance sustainability. The world has shifted in a way that requires most small businesses to conduct more business online. This funding may help in that way, and to recover from losses of revenue due to COVID.”

For more information, or to apply, visit www.noblecountyedc.com or call (260) 636-3800. One-on-one assistance is available from the EDC staff to help prepare and submit grant applications. All information submitted is confidential.