The Indiana Economic Development Corporation is creating a new fund to provide capital to socially and economically disadvantaged business owners.   

Natasha Jensen-Matta, the Vice President of Entrepreneurship and Innovation Development at IEDC, says the new Legend Fund will help entrepreneurs and small business owners grow their operations. The $29 million fund will be available for select small business owners in Indiana for the next 5-6 years.     

Eight lenders have been approved to join the fund so far, and money is also being provided by the United States Department of Treasury through the State Small Business Credit Initiative. According to Jones, the ideal lenders would be mission-based lenders who already seek to fund socially and economically disadvantaged business owners.   

Jones says small businesses are vital to the Indiana economy, but right now, “It is a difficult lending climate.” The IEDC created the Legend Fund to provide another resource for Indiana entrepreneurs. Jones says now is a great time to be an entrepreneur in Indiana, and the Legend Fund is yet another tool the state can use to attract business owners. 

To see if your business is eligible to receive capital from the Legend fund, visit the IEDC website at https://www.iedc.in.gov/ssbci/ssbci-join.