PROGRAMS

NewAllen Alliance started...

with a $150,000 revolving loan grant from the United States Department of Agriculture (USDA) to offer low interest loans to the businesses in the area being served, for equipment or infrastructure improvement needed to expand the business helping create jobs and added commerce. Through the interest earned on this program, NewAllen was able to launch a façade grant program that offers a rebate back to business owners who do work on the outside façade of their business. Details of the programs are below.

 

(to be eligible to participate in any of the NewAllen Alliance Grant or Loan Programs, the business must reside in the communities or unincorporated areas of NewAllen including Grabill, Harlan, Hoagland, Monroeville, New Haven, Leo-Cedarville, and Woodburn.)

  • Businesses seeking loans must reside in the communities who are members of NewAllen including Grabill, Harlan, Hoagland, Monroeville, New Haven, Leo-Cedarville, and Woodburn.

  • Business loans are at 3/4 of the prime interest rate for equipment, infrastructure, and other approved purchases.

  • Real estate purchases are not eligible.

  • The Community Development Corporation of Northeast Indiana provides administrative support on loan origination.

  • Loans are rarely approved over $50,000.

  • Loans can be a secondary loan to a financial institution's loan.

  • A letter of reference is needed from a New Allen Alliance community board member when applying.

Applications are accepted on a rolling basis. Please submit your application to the NewAllen Alliance Board Member that represents your community (See Board Members)

  • Façade grants are only approved before or during a project, not after completion.

  • A letter of reference is needed from a NewAllen Alliance community board member when applying.

  • Rebates are given at 1/3 of the cost, up to $1,000.

  • Rebates are given upon completion of the project and submission of final completion form.

  • Improvement can be made to any outs

  • Projects can include any exterior surface that is seen by the public including but not limited to siding, signage, roof, landscaping, windows, doors, gutters, etc.

  • Labor by business owner is not reimbursable.

Applications are accepted on a rolling basis. Please submit your application to the NewAllen Alliance Board Member that represents your community (See Board Members)

 
 

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