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Indy Chamber Provides Loans and Coaching to Small Businesses 

2024-02-18 – BE&O ATC

A local organization is supporting Central Indiana business owners with loans and mentoring services. 

The Business Ownership Initiative (BOI) is a division of the Indy Chamber’s Entrepreneurship Services program and is focused on helping small businesses grow and thrive. During the pandemic, BOI provided over $23 million in capital to Indianapolis-area small businesses. 

BOI Executive Director David Herron says the organization acts as a community development financial institution that provides capital to local businesses. He says many minority-owned companies are eligible for BOI services, including free business coaching.   

Herron says even if a company can’t obtain a loan from BOI, the organization will provide help with education on bookkeeping to help prepare for future applications with BOI or other loan providers.