Confidential assistance is available for businesses and industries seeking information on site locations, financing, utility rates, taxes, labor availability and wage rates, housing and other resources available to business and industry in the Evansville area.
Revolving Loan Fund (RLF): The Economic Development Committee administers a revolving loan fund below market rates for businesses throughout the city. Issuance of a loan from this fund requires review and approval by the Loan Review Board, Economic Development Committee, and Common Council. Policy and Application Form.
Express Revolving Loan Fund (ERLF): The Economic Development Committee and Common Council announced a waiver of the usual review process to allow for quicker approval of loans up to $2,000. These Express Loans will require approval by City Staff and will be limited to no more than a total of $25,000. You can apply for these loans here. If your business meets the general criteria outlines in the Express Loan Forgiveness Application (including having to shut down as a result of the Safer at Home Order) you can apply for forgiveness of these loans here.
Small Business Administration (SBA) Economic Injury Disaster Loans (EIDL). These low-interest federal loans are issued to alleviate economic injury small businesses or private non-profits are experiencing caused by COVID-19 (Coronavirus). An advance can be made as part of this loan application, the advance, up to $10,000 can be kept by the applicant and will not require repayment. Applications for these loans should be submitted to the SBA. Please see the Frequently Asked Questions and press releases announcing the program in English and Spanish.
Evansville Economic Development Committee: The City's Economic Development Committee is the lead agency in the City to assist business and industry in locating in the area. Other city, county and state organizations and agencies are also available to offer a variety of general and specialized assistance programs.
Evansville Redevelopment Authority: The City's Redevelopment Authority focuses on the traditional downtown area of Main Street and an extension up Union Street. Much of this area is in Tax Incremental District #5.
Evansville Chamber of Commerce: The Chamber of Commerce was formed to bring business, industry, and professional firms and individuals together to improve and promote Evansville.
Local Financial Institutions: Three full service banks serve the City and are active lenders with experience in development financing.
Regional Organizations: Rock County and MadREP serve Evansville and beyond.
Financial Assistance: Tax Increment Districts are available for project assistance
REDL&G: Evansville Water & Light is eligible to compete for grants and loan funding through the US Department of Agriculture's Rural Economic Development Loan & Grant program. Zero-interest loans can be used for projects that create or retain jobs. For info, please see the Press Release... or the USDA Fact Sheet...
Building Improvement Grant (BIG): This is a matching grant of up to $1200 for facade, sign, and entry improvements in the historic downtown. Policy and Application Form.
Evansville Water & Light: Through WPPI Energy and the statewide Focus on Energy program, our municipal electric utility has access to a number of energy efficiency incentives. Business customers can reduce their operating costs, increase their bottom lines and improve productivity, employee comfort and customer satisfaction.