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SMALL BUSINESS LENDING
A ONE-STOP SHOP FOR
The Indianapolis Small Business CDFI Collaborative is a partnership of community development financial institutions that focus on commercial or
small business lending.
COLLABORATIVE PARTNERS
A Community Development Financial Institution, or CDFI, is an organization that invests money in community groups working to revitalize disinvested neighborhoods. The five non-profit CDFI's in this collaboration seek to provide capital to projects and businesses in low-income and underserved communities at affordable rates. We believe extending credit throughout the community helps promote a stable and healthy local economy.
In late 2019, the Indianapolis Small Business CDFI Collaborative was awarded $1.5M through JP Morgan Chase Foundation to help increase access to capital and technical assistance for minority owned small businesses in several Indianapolis geographies including the Indy East Promise Zone, Near Northwest Quality of Life area and MidNorth Quality of Life area.
Each CDFI partner is able to lend to projects throughout Marion County but have a particular focus on these neighborhoods through the JP Morgan Chase grant. Minority, female, Veteran and reentry-owned businesses, along with other businesses facing barriers to traditional financing, in these geographies are priorities for lending.
The partnership of these CDFIs helps form a continuum of small business and commercial loan ranges from as small as $1,000 to up to $5,000,000.
LOANS FROM
$1,000 - $50,000
BOI can provide loans ranging from $1,000 to $50,000 for early stage businesses while pairing that support with business coaching and other technical support services.
Click here to learn more about BOI.
Contact: Agnes Theodossiou, atheodossiou@businessownership.org
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LOANS FROM
$50,000 - $300,000
CIFI provides microenterprise loans up to $50,000 and Small Business Loans up to $300,000. Loans are available to start-up and expanding businesses. Loan proceeds can be used for working capital, equipment, inventory, leasehold improvements, and Real Estate.
Click here to learn more about CIFI.
Contact:
Phil Black, 317 960-3710 or philblack@capitalizingindiana.org
Cindy Cox, 317-960-3710 ext 132 or Ccox@CapitalizingIndiana.org
LOANS FROM
$10,000 - $350,000
Bankable can provide small business loans from $10,000 to $350,000 for early stage and existing small businesses as well as small credit builder loans of $500.
Click here to learn more about Bankable.
Contact: Jennifer Hall, jennifer@bankable.org or (765) 203-2307
LOANS FROM
$500,000 - $5,000,000
LISC can provide loans generally ranging from $500,000 - $5,000,000 with a focus on commercial real estate construction, rehab and bridge financing.
LOANS FROM
$100,000 - $1,000,000
Build Fund can provide loans generally ranging from $100,000 - $1,000,000 with a focus on commercial real-estate acquisition, new construction, rehab, equipment purchase and working capital in certain cases.
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LOANS FROM
$10,000 - $6,500,000
IFF is a mission-driven lender, real estate consultant, and developer that helps communities thrive. We can provide loans for: Facilities acquisition, Facility improvement , Equipment and vehicles, Food desert grocery stores, and Affordable housing. No appraisals needed for loans under $3MM and we will fund up to 95% of total project cost.
Click here to learn more about IFF.
Contact: Amandula Anderson, aanderson@iff.org (317-860-6904) or Andre Gibson, agibson@iff.org (317-860-6923)
NEED HELP DECIDING WHO IS THE BEST FIT?
REAL ESTATE ASSISTANCE FUND FOR BLACK-OWNED BUSINESSES
With financial support from Cummins, through their Cummins Advocating for Racial Equity (CARE) initiative, and the Local Initiatives Support Corporation, LISC Indianapolis has established a real estate assistance fund to provide up to $40,000 grants for Black businesses in Indianapolis that are seeking to purchase commercial property or retain their commercial property through capital improvements. These grants can be applied toward loan closing costs.
The Real Estate Assistance Fund for Black-Owned Businesses grant assistance is available for eligible businesses approved for a real estate loan from one of the Indianapolis Small Business CDFI Collaboration partners: BuildFund, Business Ownership Initiative, Bankable or LISC. Click here to download the program flyer.
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