The Indianapolis and Greenwood chambers of commerce are partnering to help small businesses address a top challenge: finding access to capital. The collaboration involves the Indy Chamber having space at the Greater Greenwood Chamber offices to provide microlending and counseling services to business owners and entrepreneurs. Greenwood Mayor Mark Myers says the move targets a critical need for the region’s growing small business sector, saying lack of finance is "the biggest thing that kills a small business."
Greater Greenwood Chamber Chief Executive Officer Christian Maslowski says the partnership is key to its goal to "create jobs here, to retain the talent we have and to grow new enterprises right here at home." During an interview with Inside INdiana Business Television, he said, "What we’re doing is making that easy to do here in Greenwood."
The program will give businesses in Greenwood and throughout the southern suburbs of the Indianapolis region access to the Indy Chamber’s microlending program, which provides loans of up to $50,000 to businesses that may not meet traditional lending standards. It will also make business coaches available to area businesses.
Indy Chamber Senior Director for Entrepreneur Services Carrie Henderson says, "Almost every growing company has cash flow challenges." She says the chamber’s coaches can help "analyze a business balance sheet and lay out realistic options."
Earlier this week, the Indy Chamber announced the new Accelerate Indy economic development strategy, aiming to help the nine-county region compete with other metropolitan areas throughout the country. Chief Executive Officer Michael Huber says a top priority of the plan is attracting and retaining talent with a focus on entrepreneurship and small business growth.