Merchants Bank of Indiana Secures $75K in Small Business Grants for Three Indianapolis-Area Businesses

CARMEL, Ind. Merchants Bank of Indiana recently assisted three Indianapolis-area businesses in securing nearly $75,000 in total small business grants through Federal Home Loan  Bank of Indianapolis (FHLBI) Elevate program.

Elevate is a small business grant program that assists the growth and development of small businesses, their workforce, and the communities where they are located. Indy Artsy, Super Micro Greens and 8th Day Distillery were among 17 local businesses in Indiana and Michigan to receive funding through the program.

Headshot Becca Murphy“Merchants is proud to be able to facilitate and sponsor the applications to help these local small business owners expand within our great city,” said Becca Murphy, CRA Mortgage Loan Officer at Merchants Bank of Indiana. “This is the second year in a row we’ve helped to secure funding through FHLBI’s Elevate program, which has afforded nearly 30 small businesses in the two-state area the opportunity to grow and expand their missions.”

 

Founded in 2017, female-owned Indy Artsy is an owner-operated pottery studio and retail arts and gift shop. The business, located on the near east side of Indianapolis, produces unique pottery, offers classes, hosts events and showcases other local artists. Indy Artsy plans to use Elevate grant funds to purchase new equipment and support local artists with a community space. They will also leverage funds to strengthen an existing partnership with Project Lia, a 501(c)3 non-profit providing training to women returning from incarceration through woodworking and other creative skills, by moving into a shared 7,000-square-foot space within the Circle City Industrial Complex (CCIC).

Indianapolis-based Super Micro Greens was established in 2015 and is a full-scale production and research farm in Indianapolis that leads the development of systems and technology to vertically integrate food production. They are a grower and supplier of healthy, local and organic food to nearly 20 local restaurants and private chefs, and they provide educational opportunities to the community on the benefits and uses of micro greens. The business plans to use the $25,000 funding through the Elevate grant to purchase new growing systems, expand their facility and upgrade their business technology.

Founded in 2017, 8th Day Distillery is an Indianapolis-based, family-owned distillery that offers small batch whiskeys, rums and gins, along with a tasting room open weekly Thursday through Saturday. They will use the $25,000 grant to expand their facility and purchase a chiller for year-round operation to meet an increased demand for their products, as well as a Fermentation Control System and additional necessary upgrades to their property. 8th Day Distillery is a community-focused business that collaborates with other small neighborhood businesses to create synergies needed to ensure long-term neighborhood vitality.