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Matthew B. Murphy III, co-founder and president of Emboss Partners, a consulting and capital acquisition firm, talks about how the lending market has changed and what the future may look like.

He highlights the changes in interest rates on lending money. For a long time, interest rates on lending money have been cheap and rates have shown little to no fluctuation over time. In the last couple of years, that has all changed.

Murphy explains that interest rates have increased and the rates are not as stable anymore. What may be affordable one day may not be the next.

The sensitivity of interest rates has forced both lenders and borrowers to ask more questions and spend more time planning. It is also important to have people to assist in planning, accountants, and financial professionals, that can give businesses the information they need.

Murphy says it is most important for business owners to plan, plan and plan. Be prepared to navigate the uncertainty of financial markets.

President and CEO of Fifth Third Bank, Tim Spence, gives insight into the health of regional banks and whether it could affect your ability to access capital.

On May 3rd, Fifth Third Bank celebrates “Fifth Third Day,” the third day of the fifth month, by volunteering in the community and reminding us about the importance of supporting one another. Spence emphasizes community as an important part of the success of banks.

Spence explains bank failures over the last month and a half that have resulted from a number of banks being more focused on the tech sector than the real economy.  “The good news for the system overall and in particular, the state of Indiana, is that the banks that are in operation in the Midwest were virtually unaffected,” Spence said.

The President and CEO emphasizes the importance of healthy and strong communities and customers.

Midwest banks benefit from this by having stable communities and customers that support and understand the importance of this.

The Indiana India Business Council is a group that advocates for strengthening economic and social growth between the state of Indiana and India.

The council has contributed significantly to the growth and prosperity of both Indiana and India.

Indiana and India share a strong economic relationship that has grown significantly in recent years.

The Indian community in Indiana has grown tremendously since the 1950s and 60s when the first 13 families arrived to work at IU or Lilly.

Today, there are more than 35,000 people of Indian descent in Central Indiana, most of whom work in various professional fields like science, medicine, and technology.

The Indiana India Business Council has played a significant role in preserving Indian culture in Indiana.

The council has helped establish several temples, including a Hindu temple on the east side of the state, a mosque, and an Indian church.

The council also hosts events like the Indiana India Gala and Asian Fest, where people from different Indian states can come together to showcase their cultural heritage through music, dance, and other performances.

The council has also helped connect small and large businesses in both Indiana and India, contributing to economic growth in both places.

Overall, the Indiana India Business Council has played a significant role in strengthening the economic and cultural relationship between Indiana and India. The council’s efforts to connect small businesses, preserve cultural heritage, and foster innovation have helped to create a vibrant and prosperous community in both places.

Matthew B. Murphy III, co-founder and president of Emboss Partners, a consulting and capital acquisition firm, believes that having a well-defined business plan is crucial for small businesses in obtaining funding.

He stresses that a business plan is not just a document for outsiders to analyze, but it serves as a management tool that provides a roadmap for the business’s future.

A solid business plan can also bring credibility to the story that the business owner or management team is telling about the company’s direction.

Murphy also emphasizes the importance of a strong financial track record, both personally and for the business. Personal credit is often viewed as an indicator of how a small business will handle corporate credit. Any credit challenges need to be explained, and steps taken to mitigate these challenges. For instance, disclosing improvements made, even if the credit score does not reflect it, can be beneficial.

Murphy acknowledges that obtaining capital can be a challenge, particularly for start-ups or businesses without a significant track record of borrowing.

Financial institutions want assurance that the business can handle the financial resources deployed and repay the loan and interest over time. This requires presenting a compelling story, supported by a business plan and financials that demonstrate the business’s growth prospects and ability to generate a return on investment.

Murphy believes that a strong business plan, a solid financial track record, and a competent team are key factors in obtaining funding for small businesses.

By presenting a compelling story supported by a robust business plan and financials, businesses can demonstrate their growth prospects and ability to generate a return on investment, making them attractive lending opportunities.

Gaining access to capital is essential for any business, but it can be challenging to secure funding without knowing how to sell yourself to potential investors.

Elevate Ventures, one of the most active seed and early-stage investors in the Great Lakes, has invested more than $156 million in over 500 companies, making it easier for entrepreneurs to gain access to capital.

Elevate Ventures CEO Christopher Day shared that the company invests in cross-sectors, ranging from software to hard tech, healthcare, food, sports tech, and more. The organization invests between $20,000 to $2 million in any given round, with up to $4 million in a particular company. They currently have $215 million in assets under management and a single LP, the state of Indiana through the Indiana Business Corporation.

Elevate Ventures is sponsoring one of the largest pitch competitions in the country Rally. It is an innovation conference that aims to bring together disparate stakeholders from foundations, universities, and businesses to build better communities and help more companies form and grow faster. Rally will also feature a $5 million pitch competition split across five sectors: software, hard tech, healthcare, food, and sports tech.

Early bird tickets for Rally are now available, and the applications for the pitch competition are due on May 19th. Visit the following website to purchase tickets:

Elevate Ventures hopes that Rally will provide more accessibility to capital, mentors, vendors, and advisors to help entrepreneurs achieve their next milestone.

Anthony Kirkland, the Business Program Director for the US Department of Agriculture (USDA) Rural Development, is helping farmers become more energy self-sufficient through the agency’s Rural Energy for America Program (REAP).

With ample funding available, including a recent allocation of $4.4 million in the state of Indiana, REAP aims to support producers, small farmers, and small businesses in improving their energy costs through renewable energy and energy-efficient projects.

One of the notable examples of REAP’s impact is the installation of solar projects in Indiana, with several successful projects completed in the past year.

Kirkland acknowledges that REAP is often considered a “best-kept secret” due to misconceptions about paperwork and eligibility. However, he emphasizes that the program is accessible to anyone, including grant writers who can assist with the application process.

There is no set time to apply for REAP, as projects can be submitted at any time. Kirkland also highlights that USDA Rural Development has seven area offices with experts on the ground to assist small businesses with access to capital and technical assistance.

Kirkland said Indiana led the nation in the number of projects completed under REAP last year, including attracting a company from Mexico to establish operations in the state.

USDA Rural Development also offers other programs, such as the Business Loan Guarantee Program for lenders and grant programs for cities and towns, while supporting communities. Kirkland encourages those interested to visit the USDA website for more information and to seek answers to their questions.

This program is making strides in empowering farmers and small businesses in rural America to become more energy self-sufficient.

Through funding and support for renewable energy and energy-efficient projects, REAP is driving economic growth and job creation while contributing to sustainable energy practices.

Blue Agilis Corp., a healthcare tech company, announced that it has received a $2.5M investment with a $42.5M post investment valuation from one of the nation’s largest payers.

The company, founded by female tech founder Nadia Adams, is on a mission to pioneer a revolution from the boardroom to the bedside.

The funding will enable the company to aggressively pursue growth opportunities and advance AI and machine learning capabilities within its Blue Agilis Platform.

We spoke with Nadia Adams, the founder and chief executive officer of Blue Agilis, about how they’re using access to capital to promote growth and advancement for the company.

Easterseals Crossroads is Central Indiana’s leader for disability service groups, and they have been meeting the needs of people with disabilities for over 85 years. They can be a resource for accessing capital for businesses looking to make workspaces more accessible.

Their goal is to create a business environment conclusive for workers with disabilities and the financial resources available to assist.

Josh Anderson is the Manager of Clinical Assistive Technology for the Easterseals Crossroads INDATA Project.

“Here at Easterseals Crossroads, we provide services to individuals with disabilities to help them live, work, play, and really just integrate into the community a little bit more, ” Anderson said. “Individuals with disabilities make up about 25% of the population, so if you’re leaving them out of your applicant pool, you’re really having a hard time maybe finding the best people for the job.

Anderson said it’s important to think about how people access things whether it be through technology or things they might need on the job.

Visit the Easterseals Crossroads website to learn more information.

Ty Tjoelker is the director for gBeta Energy and Sustainability for Gener8tor and Natasha Jensen Mata is the Director of Small Business for the Indiana Economic Development Corporation. They share how organizations are partnering to provide start-ups with the connections they need to succeed.

“Gener8tor believes in investing in the best and brightest no matter where they are or who they are. gBeta, really with the help of the IDC, is a curated program for founders to meet where they are to be able to help them move towards the next right step for them and accelerate their business. So yeah, really the benefit for the founders is that we bring in a lot of mentors and investors for them to meet, to grow their network, and to really understand what’s going on in the greater ecosystem,” the Director of gBeta Energy & Sustainability from Gener8tor, Ty Tjoelker, said.

Click here to learn more information about Gener8tor.

The 2023 Love Thy Neighborhood Awards are approaching, and Dr. David Hampton from LISC joined us for this week’s “Access to Capital” segment. WISH-TV is proud to partner with LISC again for the Love Thy Neighborhood Awards, and this year’s awards special will air in the fall.

Created in 2017, the awards celebrate organizations who are making a positive difference in the community. Applications are now open, and the deadline is March 24 at midnight.

Each year, the Love Thy Neighborhood Awards recognize winners across six categories: Community Champion, Good Neighbor, Best Public Space, Business, Quality of Life, and Education. These categories represent the various areas of community development that LISC and its partners focus on, from economic development and job creation to affordable housing and education. Each category winner is awarded $4500 in unrestricted funds to further their mission.

Find out how to apply and watch the 2022 Love Thy Neighborhood Awards here.