CARMEL, Ind. (Dec. 05, 2023) – Merchants Bank (NASDAQ:MBIN) celebrates three Indianapolis-area businesses it assisted in securing nearly $60,000 total in grants through Federal Home Loan Bank of Indianapolis’ (FHLBI) Elevate Small Business Grant program (“Elevate”).
Elevate helps the growth and development of small businesses, their workforce and the communities where they are located. This year, Merchants Bank helped construct the application and outlined the projects for submission for Kismetic Beer Company, Stomping Ground and Tea’s Me Community Café, LLC – three of the 38 local businesses in Indiana and Michigan to receive funding through the program.
“If the past few years have taught us anything, it’s that small business owners are resilient,” said Becca Murphy, Vice President, Affordable Lending at Merchants Bank, who helped secure the Kismetic Beer Company and Stomping Ground grants. “We are incredibly proud to lend a helping hand to small businesses right here in Indianapolis. After all, small businesses help build our community, and we hope these loans give each of these entrepreneurs the opportunity to expand their businesses to keep moving forward.”
Kismetic Beer Company, a woman-owned microbrewery in Indianapolis that opened last year, was awarded a $20,000 grant. The business is a small batch, boutique brewery and taproom, with a focus on lager style beers and a fleet of low-alcohol to alcohol-free beverages. Demand has prompted the need to expand their production space. The new funds will be used toward the purchase and installation of a new fermenter, brine tank and chiller.
Awarded $20,000, Stomping Ground is a retail floral and small-scale seasonal garden center. Elevate funds will be used to expand their sales area by building a four-season space, including a security fence, heating and lighting. New merchandise displays will also be purchased for an enhanced shopping experience.
Tea's Me Community Café, LLC was awarded over $18,000 to enhance workforce development, strengthen the leadership training program and increase its marketing reach in local communities and beyond.
“It was a pleasure working with Marquisha Bridgeman,” said Tamika Catchings, CEO and Owner of Tea’s Me Community Café, LLC. “This is another example of how Merchants Bank seeks out opportunities to support small businesses. You can find our tea in local retailers, and I’m hopeful for continued growth of our bottled teas nationwide.”
To learn more about Merchants Bank, visit www.merchantsbankofindiana.com or find Merchants Bank on Facebook, LinkedIn, X and Instagram. For an overview of all the small businesses who received the Elevate grants this year, please click here.