The Dean and Barbara White Family Foundation announced a $1 million contribution to the Indy Chamber’s Rapid Response Loan Fund for emergency financial assistance to small businesses affected by the COVID-19 coronavirus. This generous commitment from the foundation brings the total fund to $4.7 million toward a $10 million goal announced early last week by Indianapolis Mayor Joe Hogsett and Indy Chamber President and CEO Michael Huber.
“Our state and city’s necessary response to COVID-19 has temporarily shuttered the city’s main economic engines and the White Family is deeply committed to the city of Indianapolis and its people,” said Bruce White, trustee of the Dean and Barbara White Family Foundation. “This crisis has directly affected tens of thousands here in central Indiana and maintaining the strength of the Indianapolis business community through this health crisis will help ensure our sustainability now and over the long term.”
The Rapid Response Loan Fund is administered by Indy Chamber’s Business Ownership Initiative (BOI) and its partners. BOI, a program of the Indy Chamber, recently pivoted its focus to emergency assistance for small businesses affected by COVID-19 via free one-on-one business coaching and access to lending capital.
“We have received over 600 loan inquiries and over 20,000 visits to our website to ask questions and find resources,” mentioned Michael Huber, President and CEO of the Indy Chamber. “Our small business community needs us, and we as a community need them to grow and thrive.”
“Supporting businesses during this time translates into immediate job preservation and a bridge to an optimistic future of health and safety and economic prosperity,” White continued. “Things will improve in Indianapolis and across the country, and I expect when the public regains confidence, our city will rebound with strength and vitality.”
The Dean and Barbara White Family Foundation joins Anthem, the City of Indianapolis, the Capital Improvement Board, the Indianapolis Bond Bank, the Indy Chamber, and LISC Indianapolis in contributions to the Rapid Response Loan Fund toward its $10 million goal.
Small businesses are encouraged to speak with their banks, accountants, and financial advisors to determine the best available financial assistance options for their organization. For more information on federal programs and Rapid Response Loans, visit response.indychamber.com/loans.