The South Bend Opportunity Fund
The South Bend Opportunity Fund provides small businesses in South Bend with access to capital and business coaching. Eligible businesses can apply for loans ranging from $1,000 to $30,000 through 1st Source Bank after completing coaching and a readiness assessment with the Indiana Small Business Development Center (ISBDC). The program supports businesses with revenues under $300,000 and aims to foster local economic growth. Applications are currently open.
$30K
No Deadline
City of South Bend
Loan
Program Overview
The South Bend Opportunity Fund is an initiative designed to provide local small businesses with increased access to capital and essential business support services. Developed by the City of South Bend in partnership with 1st Source Bank and the North Central Indiana Small Business Development Center (ISBDC), the program aims to empower South Bend entrepreneurs with financial and technical support to grow and thrive.
City of South Bend
Key Features:
Business Coaching: Eligible businesses will receive tailored, one-on-one coaching from ISBDC, including assistance with business planning, financial readiness, and operational strategies.
Favorable Loans: Participants will have the opportunity to apply for loans ranging from $1,000 to $30,000 with favorable terms through 1st Source Bank.
Eligibility & Requirements
Businesses must be located and operating within the City of South Bend.
The business must have had revenues of less than $300,000 in the prior year.
Applicants are required to complete business coaching and a readiness assessment before being referred to 1st Source Bank for loan consideration.
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