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178 lines
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<title>T00-DRIP Funding Research — SnS Hospitality Group</title>
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<h1>Funding Research — T00-DRIP</h1>
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<div class="subtitle">Grants, loans, incentives & certifications for The Daily Pour</div>
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<div class="meta">
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SnS Hospitality Group LLC · South Bend / NW Indiana / St. Joseph County<br>
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<b>Verified as of August 21, 2026</b> (ChatGPT research, sourced against official IEDC / SBA / Indiana pages —
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confirm each program directly with the agency/lender before relying on it). Supersedes the Aug 5, 2026 draft.
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<div class="callout ok">
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<b>Bottom line (what changed):</b> The best right-sized funding is the <b>Indiana Legend Fund</b> and an
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<b>SBA Microloan</b> — <em>not</em> the big IEDC incentives (EDGE / HBI / SEF). A single $50K trailer creating a
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few mostly part-time jobs is too small to win those discretionary economic-development packages. Chase the
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loans + certification now; revisit the IEDC incentives only at fleet scale (~10 trailers).
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</div>
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<div class="callout warn">
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<b>Two things to VERIFY before relying on them:</b>
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<ol style="margin:6px 0">
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<li><b>Indiana MBE/WBE status is contradictory.</b> ResA (Aug 21) recommends Indiana MBE certification via IDOA,
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but prior research found <b>Indiana Executive Order 26-17 (July 14, 2026) suspended the state MBE/WBE diversity
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programs.</b> <u>Confirm current status with IDOA before pursuing.</u> Federal MBE routes (SBA 8(a), MBDA) may
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still be available regardless.</li>
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<li><b>South Bend Enterprise Zone may be EXPIRED.</b> The city page says its second renewal expired
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<b>Dec 31, 2023.</b> Do NOT put EZ credits in any projection until the South Bend UEA confirms it's active and
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your base address qualifies. (The business plan's Enterprise Zone mention needs this confirmation or removal.)</li>
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</ol>
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</div>
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<h2>Tier 1 — Pursue Now (right-sized for one trailer)</h2>
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<h3><span class="rank">1</span>Indiana Legend Fund / SSBCI (IEDC) — <span class="fit-high">HIGH FIT</span></h3>
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<table>
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<tr><th>Type</th><td><b>Loan</b> (not a grant) — via participating mission-based lenders</td></tr>
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<tr><th>Amount</th><td>$5,000 – $1,000,000; terms set by each lender</td></tr>
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<tr><th>Why it fits</th><td>Correct scale for a ~$50K trailer; program <b>explicitly emphasizes historically underserved / minority-owned businesses.</b> Indiana-HQ'd, Black-owned startup is a strong candidate. No published minimum job count.</td></tr>
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<tr><th>How to apply</th><td>Pre-apply through a participating lender listed at <a href="https://iedc.in.gov/ssbci">iedc.in.gov/ssbci</a>. Confirm trailer purchase + buildout + equipment qualify (page emphasizes operating capital). Allow several weeks+.</td></tr>
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<tr><th>Action</th><td>Prepare a lender packet: trailer quote, equipment schedule, 24-mo projections, owner contribution, ownership structure, job plan.</td></tr>
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</table>
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<h3><span class="rank">2</span>SBA Microloan (via approved intermediary) — <span class="fit-high">HIGH FIT</span></h3>
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<table>
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<tr><th>Type</th><td><b>Loan</b> up to $50,000 (SBA avg ≈ $13,000), through nonprofit intermediaries</td></tr>
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<tr><th>Why it fits</th><td>Max matches the ~$50K trailer budget almost exactly. Startups can qualify (subject to repayment ability, business plan, owner contribution, intermediary underwriting).</td></tr>
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<tr><th>How to apply</th><td>Apply through an SBA-approved Indiana microloan intermediary — <b>not</b> directly to SBA. See <a href="https://www.sba.gov/loans/microloans/">sba.gov/loans/microloans</a>. Expect underwriting + technical-assistance requirements.</td></tr>
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<tr><th>Action</th><td>Identify an Indiana intermediary; request their startup underwriting checklist; compare rate/collateral/equity vs. the Legend Fund lender before choosing.</td></tr>
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</table>
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<h3><span class="rank">3</span>Indiana MBE Certification (IDOA Supplier Diversity) — <span class="fit-high">HIGH VALUE</span> ⚠️ verify status</h3>
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<table>
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<tr><th>Type</th><td><b>Certification, not funding.</b> Improves visibility/eligibility for Indiana government & university procurement (catering, concessions, event beverage contracts).</td></tr>
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<tr><th>Eligibility</th><td>Business must be ≥ <b>51% minority-owned, managed, and controlled</b>. Because SnS Hospitality is multi-member (Sam 85% via Holdings / Kiowa up to 25%), the OA voting rights & actual control will be scrutinized — likely OK at 85%, but confirm.</td></tr>
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<tr><th>⚠️ Status flag</th><td>Contradiction to resolve: <b>EO 26-17 (7/14/2026) reportedly suspended state MBE/WBE programs.</b> Confirm with IDOA before investing effort. Consider federal routes (SBA 8(a), MBDA) as alternatives.</td></tr>
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<tr><th>How to apply</th><td><a href="https://www.in.gov/idoa/mwbe/mwbe-compliance/">in.gov/idoa/mwbe</a>. Prepare formation records, EIN, OA, ownership evidence, résumés, licenses, financials, proof of control.</td></tr>
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</table>
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<h3><span class="rank">4</span>South Bend Opportunity Fund — <span class="fit-high">HIGH FIT</span> (keep; already in motion)</h3>
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<table>
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<tr><th>Type</th><td>Below-market <b>loan</b> $1,000–$30,000 + free business coaching/mentorship</td></tr>
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<tr><th>Eligibility</th><td>Business located in South Bend, prior-year revenue under $300,000 → pre-revenue startup is a perfect fit</td></tr>
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<tr><th>Partners / Apply</th><td>1st Source Bank + North Central Indiana SBDC · <a href="https://southbendin.gov/opportunityfund">southbendin.gov/opportunityfund</a> · Contact: Lisa Lopez (elopez@southbendin.gov)</td></tr>
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</table>
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<h2 class="page-break">Tier 2 — Medium Fit / More Work</h2>
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<h3><span class="rank">5</span>SBA 7(a) Loan — <span class="fit-med">MEDIUM-HIGH</span></h3>
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<p>Federally guaranteed loan up to $5M (a small 7(a) product fits here). Funds equipment, fixtures, inventory,
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working capital. A mobile food business isn't excluded, but a new entity must show owner investment, acceptable
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credit, management capacity, repayment ability. Apply via a participating bank or SBA Lender Match
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(<a href="https://www.sba.gov/loans/7a-loans/">sba.gov/loans/7a-loans</a>). More demanding than a microloan.</p>
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<h3><span class="rank">6</span>USDA REAP (Rural Energy) — <span class="fit-low">LOW now</span></h3>
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<p>Renewable-energy / efficiency grant + guaranteed loan for rural small businesses. South Bend/Mishawaka likely
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fail the rural-location rule; a permanently based trailer site in an eligible smaller community west of South Bend
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<em>might</em> qualify for solar/battery. Verify the permanent project address via USDA rural eligibility before
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buying. <span class="fit-med">MEDIUM</span> only for a qualifying rural fixed site.</p>
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<h2>Tier 3 — Fleet-Scale Future (revisit at ~10 trailers, NOT now)</h2>
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<div class="callout info">
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These are discretionary IEDC economic-development agreements built for larger employers. At one trailer the payroll/
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investment is too small to win them. They become viable only if you present a <b>documented, committed phased
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10-trailer rollout</b> (site commitments, investment schedule, dozens of net-new jobs) — not ten hypothetical
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locations. Approach IEDC + local EDO <b>before</b> hiring/purchasing, since credits require pre-agreement.
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</div>
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<table>
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<tr><th>Program</th><th>What</th><th>Fit at 1 trailer / at fleet</th></tr>
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<tr><td><b>EDGE</b> payroll tax credit</td><td>Refundable credit on % of net-new-job withholding, up to 20 yrs</td><td><span class="fit-low">LOW</span> / MEDIUM — too little payroll now</td></tr>
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<tr><td><b>HBI</b> investment tax credit</td><td>Nonrefundable credit on % of eligible capital investment</td><td><span class="fit-low">UNLIKELY</span> / LOW-MED — $50K too small; mobile-equipment questions</td></tr>
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<tr><td><b>Skills Enhancement Fund (SEF)</b></td><td>~50% training-cost reimbursement, credential-bearing</td><td><span class="fit-low">LOW</span> / MEDIUM — a central training academy for 10 trailers is the real case</td></tr>
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<tr><td><b>DWD Employer Training / Next Level Jobs</b></td><td>Up to $50K training reimbursement, high-growth fields</td><td><span class="fit-low">LOW-MED</span> — routine barista training likely outside approved occupations</td></tr>
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<tr><td><b>OCRA CDBG</b></td><td>Community grants ($500K–$750K) to local governments</td><td><span class="fit-low">UNLIKELY</span> — you can't apply directly; it's public-infrastructure money</td></tr>
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<tr><td><b>Urban Enterprise Zone</b> credits</td><td>State/local tax credits at a qualifying zone address</td><td><span class="fit-med">UNVERIFIED</span> — South Bend zone may have expired 12/31/2023 (see warning above)</td></tr>
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</table>
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<h2>Dead / Closed (kept for the record)</h2>
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<ul>
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<li class="dead">Flagstar Bank BIPOC Grant — PROGRAM COMPLETED, all 35 awards distributed. Monitor Indiana Black Expo for future rounds.</li>
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<li class="dead">USDA Business Builder Award — TERMINATED July 15, 2025.</li>
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</ul>
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<h2>Stacking Rules & Cautions</h2>
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<p><b>Potentially stackable (with written approval):</b></p>
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<ul>
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<li>Legend Fund or SBA financing <b>+</b> MBE certification</li>
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<li>Business loan <b>+</b> EDGE (on verified payroll) <b>+</b> HBI (on separately documented investment) <b>+</b> SEF — negotiated together as one IEDC package</li>
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<li>MBE certification <b>+</b> state/local procurement contracts</li>
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<li>USDA REAP <b>+</b> a loan for the non-grant portion of an eligible rural energy project</li>
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</ul>
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<p><b>Restrictions:</b></p>
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<ul>
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<li>Never claim the <b>same cost twice</b> (e.g., SEF + DWD for the same training).</li>
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<li>HBI is <b>nonrefundable</b> — needs sufficient Indiana tax liability to use.</li>
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<li>EDGE applies only <b>after</b> contracted job/payroll performance.</li>
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<li>Enterprise-zone benefits attach to a <b>specific qualifying address</b>, not a mobile route.</li>
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<li>SBA + Legend Fund may not be stackable on the <b>same collateral/project</b> without both lenders' approval.</li>
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</ul>
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<div class="callout warn">
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<b>CPA review required (Tracie, Sept 1):</b> Before modeling ANY tax credit, have an Indiana CPA confirm how it's
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claimed by a <b>multi-member LLC</b> and whether it passes through to the members. This is funding research, not tax
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or legal advice.
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</div>
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<h2>Top 3 to Pursue Now</h2>
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<ol>
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<li><b>Indiana Legend Fund</b> — prepare a lender packet, pre-apply with a participating lender for ~$50K.</li>
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<li><b>Indiana MBE certification</b> — first confirm EO 26-17 status with IDOA; verify Sam holds ≥51% ownership + control; then apply. Opens contracts, not startup cash.</li>
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<li><b>SBA Microloan</b> — find an Indiana intermediary, get their underwriting checklist, compare vs. Legend Fund.</li>
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</ol>
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<footer>
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<b>The Daily Pour</b> — SnS Hospitality Group LLC · Funding Research (ChatGPT-sourced, 2026-08-21)<br>
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Programs sourced from official IEDC / SBA / Indiana DOR / IDOA pages. Confirm current terms directly with each agency/lender before relying on any figure. Not tax or legal advice.
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</footer>
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