Indy Chamber Grant to Boost Training, Loan Programs

Posted: Updated:
The programs will be offered through the new Source River West Entrepreneurship Center on West Michigan Street on the city's near west side. The programs will be offered through the new Source River West Entrepreneurship Center on West Michigan Street on the city's near west side.
INDIANAPOLIS -

The Indy Chamber says a $100,000 grant will help spark development in a key neighborhood. The organization says the funding from the JPMorgan Chase Foundation will support business coaching and microlending programs in the River West neighborhood near the 16 Tech innovation district.

The grant will help fund the chamber's Business Ownership Initiative. The programs will be offered through the new Source River West Entrepreneurship Center on West Michigan Street on the city's near west side.

In addition to one-on-one coaching for entrepreneurs and business owners, the Business Ownership Initiative provides loans of up to $50,000 designed to provide capital for businesses that may not meet traditional lending standards. The initiative also receives funding from the city of Indianapolis.

BOI President Carrie Henderson says the JPMorgan Chase Foundation has supported its programs from the start, saying, with its continued support, "we'll be able to make a real impact on up-and-coming small businesses in an up-and-coming area."

The Indy Chamber says, in 2015, its Entrepreneur Services team provided nearly 5,000 hours of free business coaching, and more than that in combined hours of workshops and classes for small businesses. The Business Ownership Initiative also provided around $280,000 in microloans last year, helping spark 85 new business startups.

  • Perspectives

    • New Employment Laws Create Roadblocks

      Hiring the right people has always been a challenge, and it's especially difficult in a low-unemployment environment. Yet that hasn't stopped some state and local governments from doing their best to complicate the hiring process. In recent years, one of the biggest issues has been so-called "ban the box" laws that prohibit employers from asking about criminal history on applications. Now it appears that data about past salaries is becoming another taboo subject.

    More

Events



  • Most Popular Stories

    • Anthem Details Indy HQ Plans

      Anthem Inc. (NYSE: ANTM) says it will invest $20 million into converting its largest downtown Indianapolis facility -- located on the south side of the city -- into its new corporate headquarters. The city says the move will keep the state's largest publicly-traded company in the city where it was founded nearly 75 years ago. The space will be home to more than 2,600 on-site workers and support over 2,300 additional workers throughout the state.

    • Long John Silver's Acquires Indiana Restaurants

      Louisville-based Long John Silver's has acquired more than 70 restaurants, most of which are located in Indiana, from Jasper-based ServUS. Financial terms of the deal were not disclosed, however the company says no jobs will be affected.

    • Well-Known Hoosier Artist Robert Indiana Dies

      An artist born and raised in Indiana who created an iconic statue that has been reproduced throughout the world and depicted on a U.S. postage stamp has died. Robert Indiana, who was born Robert Clark in New Castle, unveiled "LOVE" in the mid-1960s, a sculpture that depicts his well-known arrangement of the multi-colored, capital letters of the word. One version of the work is still located at the Indianapolis Museum of Art and others can be found...

    • New Employment Laws Create Roadblocks

      Hiring the right people has always been a challenge, and it's especially difficult in a low-unemployment environment. Yet that hasn't stopped some state and local governments from doing their best to complicate the hiring process. In recent years, one of the biggest issues has been so-called "ban the box" laws that prohibit employers from asking about criminal history on applications. Now it appears that data about past salaries is becoming another taboo subject.

    • Do It Best CEO: Talent Needs Serve as Growth 'Governor'

      The chief executive officer of Fort Wayne-based Do It Best Corp. says the co-op's retailers are more concerned about talent attraction and retention than other issues including competition from big box stores and e-commerce. Dan Starr says low unemployment are putting pressure at "all levels" for the second-largest home improvement retail co-op in the country and the industry as a whole. Do It Best was founded in 1945 and currently employs nearly...