During the coronavirus pandemic—which research shows has disproportionately affected black-owned businesses—the 250-member organization has received no city funding to give loans or grants to its members who were struggling.
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The funding is going to businesses that need assistance paying their employees or rent, to organizations helping families pay their mortgage or buy groceries, and to companies bearing pandemic-related expenses.
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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.
Read MoreAmid the widespread economic disruption caused by the pandemic, banks have already granted payment deferrals of up to six months to a significant number of commercial and individual borrowers.
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.
The low-interest loans of up to $2 million are designed to provide working capital to Indiana businesses struggling to make it because of the COVID-19 outbreak.
Venture capital is supposed to be the lifeblood of fast-growing tech startups. But a handful of Indianapolis-area companies are defying that widely embraced mindset.
MindX founders think they’ve found a scientific way to measure pain and other hard-to-quantify mental health conditions, such as suicide risk, depression and post-traumatic stress disorder.
Wisconsin-based Gener8tor, which seeks to helps fledgling companies boost revenue and grow jobs, said it’s one-year pilot program in Indianapolis was so successful that it wants to spread its services to additional Hoosier communities.
Indiana startups might soon have an easier time attracting out-of-state investments thanks to a change lawmakers made this year to an instrumental tax incentive program.
120WaterAudit co-founder and CEO Megan Glover talks to host Mason King about the challenges of raising money and whether being based in Indianapolis helps or hurts those efforts. Her answer may surprise you.
Megan Glover started 120WaterAudit in 2016 with the idea of targeting residential consumers nationwide with a water-testing kit that cost $120 every four months. But the company has pivoted to work largely with municipal water utilities and governments.
AgriNovus Indiana’s Ag+Bio+Science Startup Showcase is growing faster than a corn stalk in June.
In its third year, the showcase attracted a record number of attendees, sponsors and participants for its pitch contest.
According to the Congressional Budget Office, the five-week closure cost the economy $11 billion, and $18 billion in federal spending was delayed.
The Indiana IoT Lab in Fishers has fast become an oasis for tech firms big and small, as well as freelancers helping companies turn their ideas about internet-connected devices into products.
Experts are mixed on whether the buyout barrage is cause for concern or validation of success.
Woven bills itself as a software company that helps high-growth engineering teams hit ambitious hiring goals. And it recently hit one of its own: closing on its first round of funding.
When Goshen native Luke Jacobs, an environmental scientist and self-taught techie, developed software to streamline his job, he got a tepid response from his employer. Displeased, he tapped his brainiac brother and equally smart Indiana University classmate to start their own firm.
Elevate Ventures, Bloomington-based incubator The Mill and the Columbus Area Chamber of Commerce on Thursday announced they have entered a three-year agreement to invest $2.5 million to bolster the entrepreneurial ecosystems in Bartholomew, Brown and Monroe counties.
After InXInnovate LTD suddenly cancelled its local event this fall, the Venture Club of Indiana was forced to hustle to re-schedule their annual Innovation Showcase. With the help of The Heritage Group and other corporate supporters, it’s now set for October.
A K-9 officer for the Indianapolis Metropolitan Police Department and his wife have completed a $2.1 million expansion of their 15-year-old kennel and animal-care business.
In 2016, Purdue University students Candice Xie and Edwin Tan were looking for an affordable, easy-to-use means to get around campus. So they started a company to fill the need.
Officials for digital consultancy Levementum said the capital recently secured from a group led by Chicago-based Inoca Capital Partners will be used in part to add about 40 employees at its Indianapolis office this year.
