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About Rapid Response Loans

BOI is currently providing loans to businesses that have been negatively or positively impacted by the COVID-19 pandemic.  We support businesses that are recovering or growing as they get back to business.

AFFORDABLE

Compared to other working capital options, a BOI loan will be one of your most affordable financing options with a 3.75% interest rate and no application fee.

FLEXIBLE

Short-term working capital gives you the ability to pay for what your business needs right now with flexible eligibility requirements. While we do take credit score and personal collateral into consideration, we don’t have minimum requirements. Plus, there’s no prepayment penalty.

SUPPORTIVE

Because we know running a business can be tough right now, we provide free technical assistance and coaching along the way. Our Rapid Response Hub team will answer any questions you have about operations, finances, health regulations – you name it.

Allowable Uses

Rapid Response loans are designed to provide support as businesses recover and grow.  Loans may be used for working capital (e.g. payroll support, insurance, rent, marketing, debt obligations, etc.) and business growth needs (e.g. equipment, supplies for larger contracts).

Scroll down to “Get Started.”

Basic Details

  • $1,000 to $25,000
  • 3.75% interest rate
  • Available for start-ups or existing businesses in the Indy Region
  • No minimum credit score required
  • ITIN accepted in place of SSN (making loans available to immigrant entrepreneurs)

Made Possible By

          

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5 Step Small Business Loan Process

1. Complete the interest form

2. Follow the instructions provided via confirmation email to prepare needed documents

3. A BOI representative will contact you supplying an application & requesting supporting documents

4. BOI reviews loan submission

5. BOI issues loan approval/denial & schedules closing if approved

 

5 Step Small Business Loan Process

1. Complete the interest form

2. Follow the instructions provided via confirmation email to prepare needed documents

3. A BOI representative will contact you supplying an application & requesting supporting documents

4. BOI reviews loan submission

5. BOI issues loan approval/denial & schedules closing if approved

 

Get Started

Are you ready to pursue a BOI loan, or discuss the opportunity with someone from our team? Fill out our online form and we’ll be in touch soon.

For questions, email lending@businessownership.org.

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