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Ready to Connect?

Let’s bring your vision to life.

Contact:

Ryan Ritchie, Interim LEDO
Phone: 812.738.2141
Email: rritchie@rjlsolutions.com

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Steps to Apply for the Small Business Loan Program

Start today by calling the ISBDC at 812.952.9765 or emailing southwest@isbdc.org
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1

Start with the ISBDC

Your first step is to meet with a Business Advisor from the ISBDC.

  • An ISBDC Advisor will help you:

    • Talk through your business idea to create or refine your business plan

    • Prepare financial information

    • Complete the HCEDC loan application

  • The ISBDC Advisor must assist with the application before it can move forward.

This step is required and designed to help set you up for success.

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2

Application Review

Once your application is completed with ISBDC assistance, it is submitted to the HCEDC.

  • The HCEDC Board of Directors:

    • Confirms the application meets program goals and requirements

    • Reviews the request at a high level

  • A $100 application fee is due at this stage.

3

Full Loan Review & Recommendation

If the application meets the program criteria and funding is available:

  • The HCEDC Board of Directors conducts a full review

  • You will be notified of their decision

4

Final Approval & Commitment Letter

If the HCEDC Board approves the loan:

  • You will receive a Commitment Letter outlining:

    • Loan amount

    • Terms and conditions

  • You must sign and return the letter within 10 days to move forward.

5

Closing the Loan

  • After you accept the loan terms:

    • HCEDC works with you to complete any remaining requirements

    • Once all final documents are received, HCEDC schedules the loan closing

    • Funds are released after the closing is complete

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Loan Terms

  • Loans ranging from $5,000 to $50,000, based on approval by the review committee.

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  • Fixed interest rate of 1.5%.

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  • Repayment terms:

    • 10 years for land and buildings

    • 5 years for equipment

    • 2 years for working capital

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  • Monthly payments begin 30 days after closing.

Funding Criteria

  • Your business must be located or planning to locate in Harrison County.

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  • You must meet with an ISBDC business advisor.

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  • Applicants should be current on all tax liabilities with no outstanding judgments.

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  • You’ll work with the ISBDC to develop a solid business plan.

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Fund Your Small Business

Built with entrepreneurs in mind, the Small Business Loan Program is a sustainable financial tool designed to help local businesses grow for the long term. We understand that accessing working capital can be one of the greatest hurdles for small business owners. That’s why HCEDC, in partnership with the Indiana Small Business Development Center (ISBDC), delivers not just resources—but also encouragement and expert guidance—to help you thrive.

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An ISBDC Advisor will walk alongside you through application preparation and strategic business planning. Once ready, you’ll submit your application for consideration directly. If you’d like to explore next steps or get started, reach out to the ISBDC team today.

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