Small business loan program restarts, runs into snags
Lenders complained Monday that they couldn’t get their applications into the SBA system known as ETran that processes and approves loans.
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Emmis shares plummet after it announces Nasdaq delisting plan
The Indianapolis-based media company, which has been a publicly traded business since 1994, said that it was pursuing the delisting to save money.
$310B for small business loans likely spoken for, banks say
Banking industry groups say the volume of applications already sent to the Small Business Administration makes it likely that much, if not all, the new money will go to those already in the queue.
Fishers tech firm Vibenomics raises $6M in growth capital
Fishers-based audio marketing technology company Vibenomics Inc. on Tuesday announced it has closed on $6 million in Series A funding. The round, which closed Feb. 17, was led by Atlanta-based BIP Capital and brings total company funding for Vibenomics to $13.5 million.
Shake Shack gets funding, to return paycheck protection loan
The company was able to get extra funding late last week through an “equity transaction” and decided to “immediately return” the $10 million paycheck protection loan it obtained through the CARES Act.
Shake Shack, Potbelly among chains tapping small-biz funds
A review of regulatory filings shows that restaurant chains and companies in industries ranging from mining to manufacturing to cruise travel received large amounts.
Indiana banks OK $7.5 billion in Paycheck Protection loans
The banks approved 35,990 individual loans for companies and organizations in Indiana before the program ran out of money.
Venture investors get stingy during outbreak
Institutional markets became increasingly volatile as COVID-19 spread across Asia, then Europe and now the United States, leaving venture capitalists holding tighter to their cash and spending more time examining the health of the companies in which they’ve already invested.
Fed sees sharp economic downturn across all regions
The nationwide look at the outbreak’s impact on the economy came from the Federal Reserve’s report known as the beige book, compiled from information supplied by the Fed’s 12 regional banks.
Stocks surge amid signs of coronavirus outbreak easing
Equities extended gains after a report that President Donald Trump will make some “important announcements” in the next few days regarding state guidelines on reopening the economy.
Beyond COVID podcast: Indy Chamber is trying to help companies stay on their feet through the shutdown
Indy Chamber CEO Michael Huber talks about the programs, what kinds of companies need them most and how the experiences have changed the way he’s thinking about his organization and what its mission will be going forward.
Government loans start flowing to small businesses
The Small Business Administration reported Monday that more than 959,000 applications had been approved for over $232 billion from the Paycheck Protection loan program.
Tumult might lead Hoosier firms to put dividends on chopping block
Firms across the country from a broad range of industries will be taking a hard look at their dividends in the coming weeks, as the pandemic forces businesses to focus on conserving cash.
Kim & Todd Saxton: You can be an early-stage investor—and startups need you
Investing locally is rewarding as part of a balanced portfolio. It is also exciting and gratifying to be part of allowing a local startup to launch or grow.
Record bankruptcies predicted in next year as unemployment soars
New research from economists at three Federal Reserve banks shows coronavirus-related bankruptcies could rise by 200,000, reaching almost 1 million, unless government stimulus programs offset the increase.
Wall Street caps best week since 1974 on latest Fed stunner
The stock market closed out its best week in 45 years on Thursday after the Federal Reserve launched its latest titanic effort to support the economy through the coronavirus outbreak.
Federal Reserve rolls out $2.3T plan to buttress cities, businesses
The Fed said Thursday that it is activating a Main Street Business Lending Program authorized by the CARES Act, the largest economic relief package ever passed by Congress.
Flow of venture capital for Indiana tech firms slows dramatically
The drop in capital investments in the first quarter likely is an indication of investor caution in the face of the coronavirus crisis.
Computer issues at SBA hold up small business rescue loans
An SBA spokeswoman said Tuesday afternoon that there have been more than 275,000 applications received for loans valued at $75 billion since the program launched.
Software firm Lessonly scores $15 million in latest venture funding round
The funding—secured before the coronavirus hit the U.S.—will be used to fuel growth across all segments of the company, said Lessonly CEO Max Yoder.