Application for grant, loan, or loan guarantee; requirements

Sec. 7. A political subdivision (as defined in IC 36-1-2-13), a nonprofit organization, or a for-profit organization may submit an application to the corporation to obtain a grant, loan, or loan guarantee to establish a small business incubator. The application must: (1) describe the facility that is to be converted to an incubator; (2) specify the cost of the conversion; (3) demonstrate the ability of the applicant to directly provide or arrange for the provision of business development services (including financial consulting assistance, management and marketing assistance, and physical services) for tenants of the incubator; (4) demonstrate a potential for sustained use of the incubator by eligible tenants through a market study or other means; (5) demonstrate the ability of the applicant to operate the incubator in accordance with section 19 of this chapter; (6) state that the applicant will not discriminate against an employee or applicant for employment on the basis of race, religion, color, national origin, sex, or age; and (7) include any other information required by the corporation.