Angola Investment Fund (AIF) Small Business Loan

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Supporting Small Business Sustainability and Growth

The City of Angola is pleased to announce that it is a recipient of a Community Development Block Grant through the Office of Community and Rural Affairs. The purpose of these funds is to support small, local businesses in the service and retail industry needing resources for working capital and operating expenses to assist in recovery as a result of COVID-19.   

The Angola Investment Fund (AIF) will be responsible for managing the Angola AIF/OCRA Fund in selecting businesses to receive loans. Loans meeting certain criteria will be forgiven. Minority-owned businesses will be given priority with this program. Please see the application for more information.

Contact Vivian Likes, Director of the Economic Development and Planning Office: 

665-7465, Ex 7265, vlikes@angolain.org

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Frequently Asked Questions:

  • How much money can my business apply for?  Up to $10,000.
  • Who is eligible?  For-profit businesses registered with the State of Indiana that employ under 50 people in the service and retail industry. The majority of employees must qualify as low to moderate income, with an income cap for eligibility per employee at $37,200. The business must have been negatively impacted by the COVID-19 pandemic and must be located within the Angola, IN corporate limits. 
  • What is the interest rate for the loan?  There is a one (1) percent interest rate.
  • Can the loan be forgiven?  The loan may be forgiven if certain criteria are met. 
  • If my business is able to get a loan, when will I have to start paying it back?  All loans will have an automatic six-month payment deferral period at the start of the loan.
  • Can I apply more than once? One principal owner per round.
  • How many rounds will there be? The first round will last 6 months. Funds not distributed in the first round will roll into the second round.
  • How do I apply? The application is online and must be applied for through this grant portal.

Contact Us

City Hall (more)
210 N Public Sq
Angola, IN 46703
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