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The Real Estate Assistance Fund is a grant from LISC Indianapolis, with financial support from Cummins and the Local Initiatives Support Corporation, that funds small businesses seeking to purchase or retain commercial property in Indianapolis. Grants of up to ,000 can be applied toward loan closing costs for commercial real estate transactions.
Eligible businesses must be located in Indianapolis/Marion County and approved for a real estate loan through a CDFI Collaboration partner — including BuildFund, Business Ownership Initiative (BOI), Bankable, or LISC. The fund supports commercial property purchases ranging from ,000 to ,500,000 or capital improvements of at least a specified minimum amount.
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Real Estate Assistance Fund | LISC Indianapolis Economic & Small Business Development Microenterprise Navigator Program Facade and Property Improvement Program Verizon Small Business Digital Ready Real Estate Assistance Fund Income and Wealth Building Place-Based Community Development Real Estate Assistance Fund Economic & Small Business Development Microenterprise Navigator Program Facade and Property Improvement Program Verizon Small Business Digital Ready Real Estate Assistance Fund Income and Wealth Building Place-Based Community Development Real Estate Assistance Fund With financial support from Cummins and the Local Initiatives Support Corporation, LISC Indianapolis has established a real estate assistance fund to provide up to $40,000 grants for small businesses in Indianapolis that are seeking to purchase commercial property or retain their commercial property through capital improvements.
These grants can be applied toward loan closing costs. The Real Estate Assistance Fund is available for eligible businesses approved for a real estate loan from one of the Indianapolis Small Business CDFI Collaboration partners: BuildFund, Business Ownership Initiative, Bankable or LISC. CDFI Collaborative Website Who is eligible for this grant?
To be considered for the real estate assistance grant, your business must be: Seeking a Loan from a CDFI Partner (Bankable, BOI, BuildFund, or LISC) for: Purchasing commercial property ranging in price from $100,000 - $1,500,000 Capital improvement (at least $100,000) to existing commercial real estate. Non-profits are not eligible for the Real Estate Assistance Fund.
Your business must prove eligibility of the following: 2021 Business Annual Gross Revenue of $2,500,000 or less Business operating at least two years (exceptions case by case) Purchasing (or capital improvement to) commercial property in Marion County The following businesses will be prioritized for receiving the real estate assistance grant if: Small businesses located in Indianapolis/Marion County, specifically business and/or commercial properties located in the following zip codes: 46224, 46222, 46208, 46226, 46235, 46229, 46219, 46218, 46201, 46225, 46221, 46241, 46227, 46203, 46204, 46205, 46107 Only businesses that are approved a loan from a CDFI partner will be able to access this grant fund.
LISC Indianapolis can provide reimbursement grants of $2,500 per property/business to cover Appraisal/Phase 1 Environmental costs. Are you ready to take on a commercial real estate loan? Financial institutions often evaluate potential borrowers based on capacity, capital, collateral, conditions and character.
Understanding these principles can help your business know how to present your loan request to a financial institution. Capacity: Business’ ability to repay the loan. Lenders will often look at projected revenue, expenses, cash flow, business and personal credit scores.
Capital: The available cash that you will be putting into the business (financing). You need to make an investment in your business first; this will demonstrate your personal commitment to a lender. Collateral: A lender will ask the business for collateral (such as equipment, vehicles, inventory, etc.).
If the business is unable to make the loan payments, the lender will try to recover what they are owed through collateral. Conditions: You will need to demonstrate the market need for your business (and products) and make the case for why the loan is needed. Lenders will often evaluate local/national trends, type of industry and your business position within the market in considering a loan.
Character: The lender will evaluate your personal background, financial track record, and business history. Financial institutions will often ask for a list of documents to review in consideration of a loan.
Below is a list of standard documents often requested (and links to templates): Personal tax returns (3 most recent years) Business tax returns (2-3 most recent years) 2021 year to date profit & loss statement and balance sheet Business debt schedule (for any existing debt) Business plan and financial projections Property details (cost, size, location, existing tenants, etc.) For a more streamlined and faster process, it will be helpful to have the above list of documents and information available for a loan officer to review.
Have you identified a commercial property? If you are looking for commercial property in a particular area of the City, reach out the local community development corporation in the area. Loopnet also has a list of active listings online.
If your business is in a financial position to purchase a building (in the near future) and you have a site identified, you are ready to take the next step. To qualify for a loan and grant assistance, you must complete the loan interest form. This will determine which CDFI partner is the best fit and the appropriate partner will reach out to you to discuss next steps.
A business must be approved for a loan from a CDFI partner to have the real estate assistance grant apply toward the loan. The grant will come through the CDFI lender that the business is working with. Claudia Mendez-Perkins, Program Officer - Lending & Community Investment
Based on current listing details, eligibility includes: Small businesses in Indianapolis/Marion County seeking a loan from a CDFI Partner (Bankable, BOI, BuildFund, or LISC) for purchasing commercial property ranging from $100,000 - $1,500,000 or capital improvement (at leas… Applicants should confirm final requirements in the official notice before submission.
Current published award information indicates Up to $40,000 Always verify allowable costs, matching requirements, and funding caps directly in the sponsor documentation.
The current target date is rolling deadlines or periodic funding windows. Build your timeline backwards from this date to cover registrations, approvals, attachments, and final submission checks.
Federal grant success rates typically range from 10-30%, varying by agency and program. Build a strong proposal with clear objectives, measurable outcomes, and a well-justified budget to improve your chances.
Requirements vary by sponsor, but typically include a project narrative, budget justification, organizational capability statement, and key personnel CVs. Check the official notice for the complete list of required attachments.
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The Fund for Women & Girls Grant Program is sponsored by The Foundation for Enhancing Communities (TFEC). The Fund for Women & Girls, an initiative of TFEC, makes grants to local nonprofit organizations in specific South Central PA counties. The grants support projects that advance the lives of women and girls by providing opportunities to address basic needs, develop economic self-sufficiency, and strengthen health and safety needs.
VGF grants will be used to develop and/or support community-based entities to recruit, manage, and support volunteers. CNCS seeks to fund effective approaches that expand volunteering, strengthen the capacity of volunteer connector organizations to recruit and retain skill-based volunteers, and develop strategies to use volunteers effectively to solve problems. Specifically, the VGF grants will support efforts that expand the capacity of volunteer connector organizations to recruit, manage, support and retain individuals to serve in high quality volunteer assignments.Applicants that receive funding under this Notice may directly carry out the activities supported under the award, or may carry out the activities by making sub-grants to community-based entities, supporting volunteer generation at these entities.). Funding Opportunity Number: AC-05-25-21. Assistance Listing: 94.021. Funding Instrument: G. Category: O. Award Amount: $6.1M total program funding.