Banks say they’re seeing overwhelming demand for Paycheck Protection Program coronavirus relief loans, and the Small Business Administration’s website is getting bogged down when they attempt to submit loan applications.
In this first episode of IBJ’s Beyond COVID podcast, Matt Neff offers advice for businesses trying to get back on track. And IBJ reporter Lindsey Erdody provides an update about Indiana Gov. Eric Holcomb’s stay-at-home order and, in particular, how the latest iteration affects liquor stores.
We check in with firms of all stripes to learn how they’re seeking to persevere—and how some are plotting to gain a competitive advantage when normalcy returns.
Nearly $350 billion in forgivable federally backed loans could be a lifeline for small businesses and their employees amid the COVID-19 outbreak.
Desi Spears and Foster-Adesokan have both heard from clients who want to make appointments for when they reopen their shops.
On the day Rachel Priddy finally got word from her contractor that she could apply for a certificate of occupancy to open her coffee shop in Carmel, Gov. Eric Holcomb ordered all restaurants to shut down in-person dining.
For now—although some restaurants can still sell Circle Kombucha with takeout orders—most of the company’s sales are taking place at about 150 grocery stores in Indiana and the region.
Naptown Fitness is offering its members a different kind of carryout as a way to stay healthy while gyms are closed during the pandemic.
Jim Shirley is one small-business executive who isn’t worried about a decline in business during the pandemic. If anything, he’s worried about a surge.
About 60% of the company’s sales typically happen at lunch and are delivered to workplaces, which have been stripped down to only the most essential people.
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.
Nearly $3 million has already been committed to the fund, including $1 million from Indianapolis-based Anthem Inc. and $1.5 million from the city of Indianapolis.
First came the order to close up. Then the laying off of staff. Now small-business owners across the U.S. are bleeding cash and wading through paperwork to get financial assistance.
“It’s your job to survive and to make sure that when these social controls are lifted and everybody starts to come back out that you’re ready for business,” IU’s Phil Powell, an economist at the Kelley School of Business, tells host Mason King.
In its ongoing effort to provide more food access to marginalized local neighborhoods, not-for-profit Flanner House of Indianapolis opened Cleo’s Bodega & Cafe last summer.
Concerns about the spread of COVID-19 have put in peril thousands of businesses, from restaurants and hotels to airlines and manufacturers of consumer goods.
Some are switching their menus to carryout-friendly fare and redeploying servers as delivery drivers.
At some small businesses, the spread of the coronavirus is forcing owners to change the fundamental ways they work.
When Indianapolis outdoorsman and filmmaker Eddie Brochin was asked to lead adventure tours on a Mexican ranch in 2013, he had no idea it would lead him to import and distribute wine.
Greg and Lisa Frazee, who opened Frazee Gardens in 2008, will continue to own and operate Brownsburg Landscape Co., which they founded in 1987.
