SBA Awards PRIME Grants to Indy Organizations

Posted: Updated:
Riley Area Development Corp. says it will provide free access to the Ruckus makerspace to low-income entrepreneurs. Riley Area Development Corp. says it will provide free access to the Ruckus makerspace to low-income entrepreneurs.

The U.S. Small Business Administration has awarded a total of $225,000 to two Indianapolis-based organizations. The Program for Investment in Micro-Entrepreneurs, or PRIME, grants will allow Business Ownership Initiative and Riley Area Development Corp. to provide training and technical assistance to low-income entrepreneurs.

The SBA says the PRIME grant program aims to help those entrepreneurs in economically-disadvantaged areas of the state. Business Ownership Initiative and Riley Area Development Corp. are two of 15 PRIME grant recipients that will use the funds to support entrepreneurship among ex-offenders.

BOI has been awarded $150,000 to re-develop its Reentry Entrepreneurship Development program, which will provide 365 recently released or soon-to-be released offenders with workshops, coaching and microlending opportunities. The RADC plans to use its award of $75,000 to expand its technical assistance services and provide skilled training to microentrepreneurs. The organization will also provide access to the new Ruckus makerspace at no cost to low-income individuals, according to the SBA.

"With small business owners facing tough economic times, SBA’s Indiana District Office is playing a stronger role than ever in its support to entrepreneurs," said Stacy Poynter, Indiana district director for the SBA. "As part of the growing need for additional training and technical assistance, BOI and RADC play a critical role in providing support to disadvantaged microentrepreneurs. This grant will provide funding to assist in their continued success."

The grants are a part of a total of $5 million awarded to 37 organizations in 24 states and the District of Columbia. 

  • Perspectives

    • Creating the Work Spaces that Draw Talent to Indianapolis

      The future economy will be driven by data, powered by robotics and heavily invested in the building blocks of nature – biotech and genetic engineering. That’s true of the economy nationwide, and it’s especially true here in Indianapolis, where dominant pharmaceutical and biotech companies are putting us at the cutting edge of the science-based economy. It all sounds larger than life. But the facilities that will house these industries will always be...



  • Most Popular Stories

    • Allison and Stanley Chen provided the lead gift for the campaign. (Provided Photo/ISI)

      International School Launches Capital Campaign

      The International School of Indiana has publicly launched a capital campaign to establish a unified campus in Indianapolis. As part of the ONE ISI campaign, the school is looking to raise $6.5 million to build a new school building for pre-elementary and elementary students at the site of its middle and high schools. The public launch follows a 10-month silent phase of the campaign, during which ISI raised $5 million from more than two dozen donors. Currently, ISI's operations are...

    • Amanda Stephenson is the founder and president of Expert RN|MD. (Inside INdiana Business Photo/Mary-Rachel Redman)

      Medical Consulting Firm Opens Downtown Indy HQ

      A medical consulting startup is celebrating the grand opening of its new downtown Indianapolis headquarters. The Indiana Economic Development Corp. says Expert RN|MD, which provides medical consultation services to law firms and life science companies, is investing $1.7 million in the new location and plans to create up to 21 jobs by the end of 2023. The firm was founded in 2018 and recently renovated the 4,000-square-foot space in the downtown's Wholesale District. In an interview...

    • Lt. Governor Suzanne Crouch will be on hand for the announcement.

      Jobs Announcement Set for Indy

      City and state officials will Wednesday make a jobs announcement in downtown Indianapolis. Few details are available, however the Indiana Economic Development Corp. says leaders from an Indianapolis-based startup will be involved.

    • The person selected will fill the vacancy on the ballot left by Mike Pence.

      Vice President Pence to Visit Indy for Free-Trade Discussion

      Vice President Mike Pence will return to Indianapolis on Sept. 26 at an event to discuss the free trade agreement with Canada and Mexico. A panel will discuss the United States-Mexico-Canada Agreement, or USMCA, starting at 12:15 p.m. Sept. 26 at MacAllister Machinery, 6300 Southeastern Ave.

    • Money magazine judges Fishers as 3rd best place to live in the U.S.

      Fishers Makes Top 10 List of 'Best Places to Live'

      Three communities in Indiana made the top 100 list of best places to live in the country, but only one made the top 10. Fishers was judged by Money magazine as the third best place to live in the United States, behind Clarksville, Tennessee and Round Rock, Texas.