Need Loan Capital? Let Us Help.

Navigating the process to get needed loan capital in the midst of COVID-19 is difficult. Our team is here to help you as you consider your options and meet your company's financial needs.

Paycheck Protection Program

Time is money. For small businesses affected by COVID-19, now is the time to apply for federal Paycheck Protection Program loans. The Indy Chamber’s Rapid Response Loan Fund, administered by Business Ownership Initiative in partnership with Bankable, is offering loans up to $75,000 to small businesses in Marion County. Approved loans are guaranteed by the U.S. Small Business Administration and are forgivable when employees are retained for at least eight weeks and when used for payroll, rent, mortgage interest, or utilities.

These federal assistance dollars are in high demand, and funds are limited. If federal funding runs out, the Indy Chamber will save completed applications for future funding opportunities. Act now

AM I ELIGIBLE?

Eligible businesses for PPP through the Indy Chamber include those:

  • seeking no more than a $75,000 loan

  • are a registered business in Marion County

  • are a for-profit business

  • with 500 employees or fewer

If you have already applied for PPP through another lender, you can apply through us if you have received written confirmation from your lender that your application was not submitted to the SBA and that you can apply through other lenders.

IF ELIGIBLE, HERE'S WHAT YOU'LL NEED TO GATHER:

  • Photo of driver's license or other government-issued photo ID (front and back)

  • 2019 Profit and Loss

  • If you have employees:

    • Last 12 mos. of Payroll Reports from 3/1/19-2/29/20​

    • 2019 IRS Form 941 for each quarter

    • Articles of Incorporation/Organization

  • If you don't have employees:

    • 2019 IRS Schedule C​

    • 2019 IRS Form 1099-MISC, invoice, bank statement, or book of record that establishes you are self-employed

    • 2020 invoice, bank statement, or book of record to establish you were in operation on or around 2/15/20


*If you are self-employed and did not operate in 2019, we are awaiting additional guidance from the SBA on required documents.

Additional Programs

You can apply for federal Economic Injury Disaster Loan (EIDL) from the U.S. Small Business Administration. Here's a useful resource (en Español) to determine eligibility and prepare you for this process, and if you're ready, click here to apply.

What businesses aren't eligible?

Agricultural enterprises, religious or charitable organizations, and businesses that derive more than one-third of their annual revenue from legal gambling activities are not eligible. More details are available here.

 

The Rapid Response Loan Fund is made possible by the following generous partners:

DEAN & BARBARA WHITE FAMILY FOUNDATION

The Central Indiana Women's Business Center, under the umbrella of Business Ownership Initiative, a program of the Indy Chamber, is funded in part through a cooperative agreement with the US Small Business Administration.

© 2020 Indy Chamber. All rights reserved. LEGAL NOTICE

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111 Monument Circle, Suite 1950, Indianapolis, IN 46204  |  317.464.2222  |  indychamber.com