Flagstar Bank's Black, Indigenous, and People of Color Grant

Indiana Black Expo, in conjunction with its Fort Wayne and South Bend chapters, is partnering with Flagstar Bank to provide $175,000 via thirty-five $5,000 grants to small businesses in South Bend and Fort Wayne, Indiana.

The Grant Application Period is Now Closed.

Program Goal: To provide immediate financial support to BIPOC (Black, Indigenous, People of Color) small businesses and entrepreneurs in Flagstar Bank’s market areas. This is to provide working capital grants to qualifying applicants.

Timeline

Based on the grantor’s criteria, fifteen grants are being made in South Bend, and twenty grants are being made in Fort Wayne.

Application process starts: November 9
Applications due: November 20, by 5 p.m. EST
Applicants notified of grant decisions: December 4, by 5 pm EST

How to Apply

  • Review the eligibility and requirements below before proceeding to make sure your business is eligible for this program.
  • Download and complete the application.
  • Email the application form along with additional required documents to The submission email address is no longer available. The deadline for submission has passed.
  • Documents Required
    • Application Form
    • W-9
    • Most recent tax filing
    • Most recent two months of bank statements
    • Certificate of Good Standing
  • Incomplete applications will not be considered.

Eligibility Requirements

The following is a list of grant criteria and eligibility requirements:

  • Grant amounts are $5,000 per business
  • Businesses with annual revenues no more than $1 million
  • Businesses must have been in existence a year or longer
  • Businesses must be for-profit
  • If a business owner operates more than one business, only one application for a single business will be accepted
  • The business name on the application must match the records with the State, County, and City. Your business must be in good standing with the State, County, and City
  • Certificate of Good Standing
  • The business must have a business address in the Flagstar Bank’s key geographies of Indiana (South Bend and Fort Wayne)
  • Grants may be used to cover the day-to-day operating expenses of the business, such as rent, working capital, payroll, utility bills, or losses due to destabilizing events, etc. Grants may be used for transitioning to e-commerce, curbside pick-up, delivery integrations, and other creative solutions to increase revenue
  • Agree to share financials and other essential information
  • Agree to share change in business as a result of the grant funding

What Businesses are Not Eligible to Apply

  • Businesses that are franchises and chains are not eligible to apply.
  • Only socially acceptable businesses – no liquor stores, cannabis, etc. (per SBA guidelines)
  • Independent contractors operating multilevel or network marketing businesses (such as Avon, Mary Kay, 5LINX, Pampered Chef, etc.) are not eligible to apply.
  • Independent contractors working on gig platforms such as Airbnb, Fiverr, Uber, Lyft, Instacart, etc. are not eligible to apply.

Additional Info

What Happens After You Submit Your Application?

Applicants will receive an automatic confirmation email confirming receipt of your application. Upon review of grant requests, applicants will be notified within 15 days of the status of their submission. Grant awardees will be issued a check payable to the business name on the application.

Is the Information and the Data Within My Application Private?

Yes. Individual applicant information and data will not be shared beyond the purposes of review during the award selection process. Applicant data will not be sold. Aggregated applicant data may be reported for evaluation and knowledge-sharing purposes.

Are the Grant Awards Taxable Income?

Yes. All awards are taxable income, and a W-9 form is required.

Disclaimer:

The information contained herein is subject to the actual grant award documents and the written terms and conditions of which may be amended from time to time. Indiana Black Expo also reserves the right to make the final determination of any person’s or organization’s eligibility and/or qualifications for program benefits and to make allocation of program benefits as it may, in its sole discretion, deem appropriate.