Hometown Business Preservation Initiative

Creating a Community Revolving Loan Program

The Office of Community and Rural Affairs today announced a new partnership with the Purdue Center for Regional Development, Ohio State University, United States Department of Agriculture – Rural Development and Indiana Economic Development Corporation, to launch the Hometown Business Preservation Initiative.

This instructional program will guide community leadership on how to establish a Revolving Loan Fund which can provide necessary loans to small businesses based on community needs. As local, state or federal funds become available, they may be placed in the community revolving loan account to then lend to identified businesses.

Attend the informational webinar at 10 a.m ET, Thursday, April 30 to learn more about the program and is an opportunity to ask questions. Please register by completing this short survey. You will receive a registration password once completed.

What will be the next steps following the webinar?

• Select a primary administrator, who will serve as the principal point of contact for the fund;
• Establish a Loan Review Committee of five to seven representative organizations;
• Outline goals for the fund;
• Identify the focus area for investment; and
• Complete this survey.

Please complete this second survey by 4 p.m ET, Friday, May 22. If you have any questions on the program, please contact Matt Crouch or Julie Rigrish.

Under the leadership of Lieutenant Governor Suzanne Crouch, who also serves as the Secretary of Rural Development, the Indiana Office of Community and Rural Affairs’ (OCRA) mission is to work with local, state and national partners to provide resources and technical assistance to assist communities in shaping and achieving their vision for community and economic development. For more information, visit ocra.in.gov.