Hundreds of small businesses in Marion county are being forced to close because of the COVID-19 pandemic.
The businesses are missing out on potential convention business and traffic from now-canceled sporting events.
Indianapolis Mayor Joe Hogsett believes it could potentially add up to hundreds of millions of dollars in losses. That’s why he and the chamber of commerce are encouraging business owners to reach out for help.
Philanthropies, foundations, financial institutions and local government agencies, now is our time. We must do everything we can as a city to help our unique and diverse small business ecosystem.Indianapolis Mayor Joe Hogsett
The Indy Chamber’s Business Ownership Initiative is pivoting its focus toward emergency assistance for small businesses. The agency is doing this through free one-on-one business coaching and access to current and anticipated loan capital programs, helping guide entrepreneurs and small business owners through the uncertainty this pandemic has caused.
The Indy Chamber also issued guidance related to anticipated federal aid through the U.S. Small Business Administration’s Economic Injury Disaster Loan program.
The chamber says these loans have been used in previous disaster circumstances to provide small businesses, agricultural cooperatives, and nonprofits affected by disaster with loans to meet working capital needs or normal business operating expenses through the recovery period.
People impacted by the pandemic outbreak can visit the city’s COVID-19 resource guide to get connected with community resources.