COVID-19 government disaster loans saved businesses, but saddled some survivors with debt
The SBA awarded about 4 million loans worth $380 billion through the program. More than $300 billion was outstanding as of late 2023.
Small Business
Articles
Hair care, streetwear stores the latest additions to St’Artup 317’s roster
St’Artup 317 is a short-term showcase for businesses on the path to becoming long-term tenants elsewhere in the city.
Fortville business owners reeling from road construction
Broadway Street in Fortville is a mess of orange construction cones and heavy equipment, with traffic backing up at rush hour and nobody getting anywhere quickly. It’s been this way for 16 months.
New ad urges Sen. Todd Young to support permanent small biz tax deduction
The National Federation of Independent Business said Monday it released the 30-second Indiana ad as part of a national push to extend a 20% small business deduction.
Rally conference returns—with some changes
As Elevate Ventures prepares for year two of its multimillion-dollar Rally innovation conference, the organization is making a few adjustments to last year’s playbook.
Small businesses still dealing with tech outages created by CrowdStrike
Businesses from airlines to hospitals have been grappling with a faulty software update that caused technological havoc worldwide on Friday, and its repercussions continued through the weekend.
Summer pause: Small business sales growth tapers as consumers take breather on spending
Consumers cut back on small business spending and visits in June across a number of industries.
Tech-powered initiative aims to boost Black-owned firms
A group of Indianapolis-based organizations has come together to create Indy Biz Pass, which the organizations describe as a first-of-its-kind network designed to support local Black-owned businesses.
Vouchers help startups turn small ideas into big ones
Startups, small businesses and entrepreneurs who have an idea with commercialization potential can tap into a system of state funding and support through a research-focused grant program.
Fishers neighbors create medical record app
Primary Record allows families and other caregivers to organize and share medical information with one another and with doctors from their computer or phone.
Tinker Street owner says restaurant perseveres because of its people
Rave reviews and a packed dining room have helped define the first nine years of business at the cozy, 1,000-square-foot restaurant where Tom Main spends a lot of time thinking about the well-being of his employees.
Startup founder’s gesture surprises Chase employee
Hetal Retail, an early-stage software developer based in New York City, has an unusual connection to the Hoosier state—its name was selected in part to honor the Indianapolis bank employee who helped the company get off the ground.
Businesses seek to capitalize on eclipse fans
It’s only in the path of totality that observers will see the corona—the glowing ring of light that surrounds the blacked-out sun.
IEDC launches lending program for small biz
The Indiana Economic Development Corp. said the Legend Fund can help entrepreneurs and small businesses with small loans, typically under $50,000.
New $29M Legend Fund aims to provide more capital to Indiana small businesses
The IEDC said the Legend Fund will give non-traditional lenders an incentive to provide operating capital to Indiana-based businesses. Eligible lenders could have a portion of the loans they issue purchased by the IEDC, freeing up capital to support more entrepreneurs and small businesses.
Indianapolis company is one of nation’s largest regional alcoholic cider producers
Ash & Elm Cider Co.’s owners say the company is just getting started, with plans to expand its retail business to neighboring states and grow its online cider club into the nation’s biggest.
U.S. small-business optimism index sees biggest drop since end of 2022
The share of owners planning to boost employment dropped to the lowest level since May 2020.
Franklin’s Canary Creek Cinemas to close after 24-year run
Canary Creek, which opened in 1999, will screen its last movies this weekend. The theater has historic ties to Franklin’s century-old Artcraft movie theater in downtown Franklin, which continues to operate.
Small businesses face new regulations in 2024
Regulations are created to improve business dealings, discourage unfair or illegal business activity, and protect workers. But, for small business owners, they often mean more red tape, higher costs and possible penalties for failing to comply.
Turned down for loans, business owners seek growth capital elsewhere
Among the many challenges small businesses face as they try to grow these days is getting a loan. Banks big and small have tightened lending standards along with rising interest rates the past two years.