Launch

The Economic Development Corporation (EDC) of Wayne County provides business development services for Wayne County, located in East Central Indiana. They work with site consultants and representatives of companies interested in locating in Wayne County. They also work with existing companies to help them grow and succeed. If you’re interested in moving your business to Wayne County, contact Valerie Shaffer for more information about what the EDC can do to help.

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East Central Indiana Region
The ISBDC was created to have a positive and measurable impact on the formation, growth, and sustainability of small businesses in Indiana. Business advisors provide assistance at no cost on topics including strategy, market research, and business planning. Assistance in exporting and business valuation is also available. ISBDC has the staff and resources available to assist with market research, critical data, and financing options. Business advisors can help you work with local funders and funding programs to make your business a success whether it’s just starting out or ready to expand.

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Richmond Revolving Loan Fund
Gap funding available to businesses located within the Richmond city limits that can be used for purchasing equipment, building rehab or expansion, real estate acquisition and working capital. Financing is limited to one third of total project costs up to a maximum of 25% of the current loan fund assets. Overall funding is based on the calculation of $1,000 per one dollar an hour for each job created or retained limited to a total of $15,000 per job. Loans operate at half of the prime rate (limited to 4% minimum) for a maximum duration of 10 years. The East Central Indiana Small Business Development Center can assist with developing a business plan and financials.

Wayne County Revolving Loan Fund
Businesses located in Wayne County can find financial assistance through the Wayne County Revolving Loan Fund. Eligible projects include real estate acquisition, construction or purchase of new plants, facilities and equipment, modernization and rehabilitation of plants and equipment, and working capital. Locally owned existing small businesses new companies, Wayne County businesses with non-local ownership, corporations, and not-for-profit organizations are eligible to apply. The East Central Indiana Small Business Development Center can provide assistance in developing a business plan and preparing financials.

Commercial Loans
First Bank Richmond
Wayne Bank
3 Rivers Federal Credit Union

Parallax Systems is a division of Richmond Power and Light, a municipally-owned utility, providing over 200+ miles of fiber optics with around 300 local customer connections. Parallax provides Point to Point (P2P) and Virtual Location Area Network (VLAN) as well as VOIP telephone service to both public and private sectors. Connectivity is also available to non-Richmond locations.