Southern Indiana Startup Awarded Caesars Foundation Loan – Inside INdiana Business

Jason Searby and Lauren VanCleave are owners of a New Albany wine shop. (Photo courtesy of Wine Shop)

Two companies in Southern Indiana received $50,000 each from the Caesars Foundation Small Business Revolving Loan Fund. The funds are designed to help start-up companies expand their operations or retain their employees.

The Caesars Foundation of Floyd County contributed $1 million to a fund administered by One Southern Indiana, the Chamber of Commerce and Economic Development Organization of Clark and Floyd Counties.

It’s the first winner in the case of Wine Shop LLC, which opened a tasting bar and boutique wine store in downtown New Albany last week. Founded by Lauren VanCleave and Jason Surby, the company offers wine and beer tasting, education, and collaborations with the local food and beverage industry, he says 1si.

The second recipient is Mile Mile and a Half LLC, which seeks damaged or older properties in Southern Indiana and the Louisville metropolitan area for conversion and renovation for residential and commercial tenants.

“It is clear that the entrepreneurial spirit is alive and well in Southern Indiana. Even through the pandemic and economic shifts, we have continued to see people take bold steps to start or grow their dream businesses,” said 1si. CEO Wendy Dant Chesser said in a statement. “We are grateful to Caesar’s Foundation for funding these projects. She is excited to see these two businesses thrive and add vitality to the region.”

A loan of $50,000 is the maximum amount awarded through the fund. To be eligible, the business must be located or plan to be located in Floyd County and must have been incorporated for at least two years OR the owner must have at least two years of applicable business experience. there is.

According to 1si, the maximum loan interest rate is set below the prime rate.

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