Overview

One Southern Indiana (1si) is collaborating with the Indiana Small Business Development Center (ISBDC), Caesars Foundation of Floyd County, Washington County Economic Growth Partnership, and several other community partners, to establish a Small Business Revolving Loan Fund (The ONE Fund), which will provide small business education, business programing and lending with a sustained focus on rural communities. The ONE Fund will provide small business owners an all-inclusive resource where they can receive education, counseling, mentoring, match-making, financial literacy programs and lending to individuals and business owners. Funding received from the READI initiative will be utilized specifically to fund the daily administration and management costs of the program. READI funds will be utilized for 3 years (2022 – 2024). 1si staff members that will perform administrative functions for The ONE Fund include: Controller, Chief Revenue Director, Small Business Navigator and Accounting Assistant. The ONE Fund will allow start-ups and existing un-bankable businesses to get lending. The program expects to do average loans of $15,000 per loan and manage a portfolio of 16 – 20 small business loans once the program levels off.