The Downtown Lafayette Business Acceleration Program, led by the DLBOA, supports micro and small businesses within the Greater Lafayette Area by providing essential resources and rental assistance. This initiative aims to stimulate economic growth and diversify the downtown business landscape.

Downtown Lafayette Business Acceleration Program

The Downtown Lafayette Business Acceleration Program, spearheaded by the Downtown Lafayette Business Owners Association (DLBOA), targets micro and small businesses to gain access to a brick-and-mortar location. Focusing on downtown Lafayette, Indiana, a bustling hub for locals, tourists, and visitors, this program is designed to stimulate economic growth and vitality by fostering the establishment of new businesses, diversifying offerings, and attracting more people to the area.

Program Overview

The Downtown Lafayette Business Acceleration Program selects up to two small businesses currently operating from home or in a pop-up fashion to participate in this unique opportunity. These businesses will receive:

  • Educational Assistance from Ivy Tech: Gain essential knowledge and skills needed to thrive in today's competitive business environment.

  • Membership to MatchBOX Coworking Studio: Access a collaborative workspace, network with other entrepreneurs, and utilize professional resources.

  • Membership to the DLBOA: Join a network of local business owners, benefiting from community support and promotional opportunities.

  • Rental Assistance: Address one of the most significant barriers for new businesses—high rent costs—by providing rent coverage through this program.

By providing rent coverage and essential training, the program streamlines the establishment process for entrepreneurs, addressing barriers like high rent costs and lack of resources.

Goals

  • Stimulate Economic Growth: Encourage new business development in downtown Lafayette, enhancing the local economy.

  • Diversity of Offerings: Promote a vibrant and diverse business environment, attracting a variety of customers and visitors.

  • Community Integration: Strengthen the sense of community by supporting local entrepreneurs and fostering connections between businesses.

Apply Now

Applications for the Downtown Lafayette Business Acceleration Program are now open and can be submitted online by clicking below. All applications must be submitted by Saturday, September 7, 2024 at 8pm EST. If you are a small business operating from home or in a pop-up setting and are interested in accelerating your growth, apply now to be part of the Downtown Lafayette Business Acceleration Program.

The DLBOA expects to make funding decisions by September 14, 2024, providing up to $20,000 in total awards to up to two high quality applicants. Applications will be selected based on the applicant’s ability to fill in downtown entrepreneurial gaps within our community, work in a collaborative effort, and support local business initiatives that make Lafayette, Indiana great. Ineligible applications include but are not limited to: duplications of pre-existing downtown businesses, oversaturation of a particular market, common business plans, or request for additional funding of a current business.

For more questions, please reach out to our team at dlboalafayette@gmail.com or contact us through our webpage. We look forward to your application!

Application Process

  1. Submit Application: Complete the online application form by September 7.

  2. Required Documents: Provide necessary documents, such as business plan, financial statements, and proof of current operations.

  3. Selection: Applications will be reviewed, and selected businesses will be notified by September 14.

Partnerships & Sponsors

Interested in becoming a sponsor for this event? Please reach out to us at dlboalafayette@gmail.com for more information. There’s always an opportunity for you to engage and provide necessary resources to your community!

Funding Recognition

Empowering Growth Through IEDC Support

The Downtown Lafayette Business Owners Association (DLBOA) proudly announces that we have been awarded funding from the Indiana Economic Development Corporation (IEDC) through their Community Collaboration Fund (CCF). This support will significantly strengthen our Downtown Lafayette Business Acceleration Program, designed to empower micro and small businesses within our community.

About the IEDC CCF

The IEDC established the CCF to support community-led projects focused on entrepreneurial education, connection and acceleration across Indiana. By backing initiatives like the Downtown Lafayette Business Acceleration Program, the IEDC is helping to cultivate a vibrant and thriving downtown Lafayette, rich with innovation and entrepreneurship.

Acknowledgment

We express our deepest gratitude to the IEDC for their invaluable support and commitment to fostering community development. Together, we are building a prosperous and inclusive downtown Lafayette.

  • The program lasts for 12 months, providing ongoing support, resources, and rental assistance throughout this period.

  • Eligible businesses must be micro or small enterprises currently operating from home or in a pop-up fashion within the Greater Lafayette Area. They should demonstrate a potential for growth and a commitment to establishing a presence in downtown Lafayette.

  • Rental assistance is provided directly to the landlord on behalf of the participating business for one year. The program covers a portion of the rent, easing the financial burden on new entrepreneurs and helping them establish a physical location downtown.

  • Participants are expected to actively engage in the educational programs provided by Ivy Tech, utilize the resources available at MatchBOX Coworking Studio, and participate in DLBOA events and activities. They should also provide regular updates on their progress and work towards establishing a successful and sustainable business in downtown Lafayette.