Indy Mayor Hogsett to hold press conference, discuss resources for small business

Indy Mayor Hogsett to hold press conference, discuss resources for small business

INDIANAPOLIS (WISH) — Relief is on the way for small businesses in the midst of COVID-19 response. Precautions to stop the spread of the virus have many businesses either closed or limited as to how they can serve their customers.  Local and federal leaders are launching efforts to help both businesses and individuals who are impacted.

Wednesday morning at 10:30, Indianapolis Mayor Joe Hogsett is set to discuss resources for small businesses.

In a release, city officials say the mayor is partnering with the Indy Chamber. They are launching the Rapid Response Hub and help through the Indy Chamber’s Business Ownership Initiative. The mayor also wants to layout steps that local businesses can be taking now to prepare for anticipated federal disaster relief.

It’s piggy-backing off of what we heard from US Treasury Secretary Steve Mnuchin Tuesday. The massive economic proposal is being compared to the packages during the financial crisis in 2008. Mnuchin said the administration was looking at ways to provide the checks within the next two weeks.

“I know there’s been some rumors of the number. It is a big number. This is a very unique situation in this economy. We’ve put a proposal on the table that would inject $1 trillion into the economy that is on top of the $300 billion from the IRS deferrals,” Mnuchin said on Tuesday.

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Mnuchin said there are concerns unemployment could reach 20%, that’s according to a Republican senate source.

Some Republican lawmakers are expressing support giving relief money directly to American families. At this point, though, it’s unclear exactly how the money would be distributed and when.