460 IAC 14.1-12-3 Small business establishment, start-up period, and start-up costs

Sec. 3. (a) A participant may receive assistance with agreed upon start-up costs identified in their approved business plan. (b) A participant with a business partner may receive assistance with start-up costs proportionate to the percentage of the business owned by the participant. A participant with a business partner must provide the VR program with a copy of the business partner agreement and documentation of both their financial contribution and their partner's financial contribution toward start-up costs. (c) A participant is responsible for: (1) twenty-five percent (25%) of the start-up costs identified in their approved business plan, if they are seeking less than ten thousand dollars ($10,000) for start-up costs from the VR program; (2) fifty percent (50%) of the start-up costs identified in their approved business plan, if they are seeking more than ten thousand dollars ($10,000) for start-up costs from the VR program; or (3) zero percent (0%) of the start-up costs identified in their approved business plan, if they are eligible for Social Security Disability Insurance or Supplemental Security Income benefits. (d) An amount not exceeding thirty thousand dollars ($30,000) in assistance is available for start-up costs identified in a participant's approved business plan and individualized plan for employment, unless an exception is granted under 460 IAC 14.1-8. (e) A participant must provide the VR program with a current profit and loss statement on a monthly basis. (f) A participant is responsible for expenses occurring during an initial start-up period not included in their approved business plan. (g) A participant may submit a written request for approval by the VR program for assistance with start-up costs that have changed due to an unforeseen circumstance after their business plan was approved. (h) A start-up period may not exceed twenty-four (24) months unless an exception is granted under 460 IAC 14.1-8.