Many business owners may think that applying for a microloan through the Business Ownership Initiative (BOI), a program of the Indy Chamber, won’t do much to help their business. Besides, isn’t bigger always better? Maybe not!
Taking out small ($1,000-$50,000) microloans through BOI can add up to big business when invested thoughtfully. You might be surprised by how a little can go a long way:
- Purchase equipment to help your business grow
- Access working capital to hire new staff
- Update your website
- Cover travel expenses for trade shows and conferences
- Update your technology
- Purchase materials necessary to help fulfill a contract
- And more!
Call BOI to find out how to apply today. Loan applicants must meet with a business coach who will assist them in the application process prior to submission to the BOI loan committee for approval. To find out more about the microloan programs available, call BOI at 317-464-2200.