The Chesterton Economic Development Company, Inc (CEDC) was created to improve the quality of life for Chesterton. Their goal is to improve the economic climate in the Town of Chesterton through job creation, business retention, and by promoting quality development. With these goals in mind, the Chesterton Hometown Assets Modernization Program (CHAMP) loan program was created. These loans are issued at a 2% interest rate to be paid in 5 years. The total amount of the loan varies depending on available funds.
The CHAMP Program's goals are to
Encourage the participation of small businesses - including tenants, business owners, and property owners - in the revitalization and redevelopment activities
Assist tenants or owners in building front renewal, repairs, upgrades, or the purchase of equipment/furniture in order to promote reinvestment in existing business and enhancing the town's commercial areas.
Induce new business entrants to Chesterton
Preserve the character of Chesterton's downtown
Improve building street/facades in commercial areas.
Applicants must be applying for a business in Chesterton. A non-refundable application fee of $100 is payable at the time the application in submitted. The CHAMP application must be completed for any loan requests up to $10,000. For loan requests over $10,000, the CHAMP II application must be completed. For further information, please see the application packet below.