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Are You an Existing Business Owner? Do You Need Short-Term Financial Assistance?
LEARN MORE ABOUT THE 2009 US Small Business Administration's America's Recovery Capital Loan Program (ARC) ProgramSBA ARC Loan Program
If your small business is stressed meeting expenses during these economic times, the U.S. Small Business Administration has a new loan program designed just for you. SBA’s America’s Recovery Capital Loan Program can provide up to $35,000 in short-term relief for viable small businesses facing immediate financial hardship to help ride out the current uncertain economic times and return to profitability. Each small business is limited to one ARC loan.
ARC Loans can be used to make payments of principal and interest, in full or in part, on one or more exiting qualifying small business loans for up to six months. To learn more on how ARC loans can provide an immediate infusion of capital click here.
To be eligible for an ARC Loan, your business must be an established business that is experiencing financial hardship. The loan program is not intended for start-up businesses. Borrowers whose loans are already severely delinquent or whose past performance or future cash flow indicates that the business is not viable are not good candidates for an ARC loan. For information on loan eligibility click here.
To apply for an ARC Loan
ARC Loans are provided by commercial lenders and guaranteed by the SBA. Your next step is to contact your lender who will help you determine if you are a candidate for an ARC Loan. To learn more about how to apply for a loan and what questions may be asked, click here.
LEARN MORE - For upcoming FREE webinars on the SBA ARC Loan Program You can participate in "Training At Your Desk" by calling in to a FREE workshop on June 22 or 23. For more information click here.
Tips From Referral Strategist Hazel Walker
There's more to effective networking than attending meetings, shaking hands and handing out business cards! Referral strategist Hazel Walker offers tips on how to maintain your contact database. To learn Hazel's strategy for database management and find a set of questions to ask yourself about each name in yours, click here.New Resource for Women Business Owners
The NWBOC (National Women’s Business Owners Corp.) has launched a Web site for all women business owners. This marketplace is being made available to public and private buyers across the country, who are interested in providing bid opportunities to women business owners. We welcome buying entities of any size that looks to do business with women owned companies. You can be both a buyer and a vendor on our marketplace.
To qualify, you must own a minimum of 51% of your company and also play a major role in the operation of that company. If this describes you, please go to their Web site, click on "Register your company” towards the top of the page. It will take only 5-10 minutes to get your company registered along with thousands of other women business owners.
If you have any question about the site or registration, please call NWBOC customer support at 1-866-526-9266.
Vendors Needed
St. Philip's Church located at 720 Dr. MLK, near the Walker Building, is once again having a Fourth Fest, Saturday, July 4th from 5 to 10 p.m. They are having live entertainment, food, fun for all, and need VENDORS! They have space available for 15 vendors for this outside event. (You might want to bring a tent or large umbrella.) Note: There is limited space available inside the church.
Downtown Indy is a happening place on Independence Day with Fireworks, and the Family Fest on the Canal. St. Philip's is located almost directly across the street from the Canal.
Vendor fee is $35.00, which provides a table and 2 chairs. The time is from 5 to 10 p.m. Set up is at 4 p.m. St. Philip's Church will be not responsible for any thefts, damages, or accidents.
Also, plan to stay for the FIREWORKS show which starts around 9:45 p.m. We will be in a prime location.
If anyone is interested, please call: Maria Langston 317-696-5007. Please respond by June 29th.
Client Spotlight
When Andy Corman decided to change careers, he reached out to BOI for guidance. A former construction project manager, Corman owns AC Trash Hauling, which specializes in heavy debris and household moving. A client since 2006, he's a graduate of Business Beginnings, has taken many other workshops and utilized BOI's business counseling. Said Corman, "While addressing challenges and short comings with a business idea, the BOI team remained positive and was instrumental in working towards solutions. The BOI team definitely focuses on 'majoring on the major concerns, not the minor concerns.'" To read more about Corman's business growth and success, click here.
Web Site Offers Money Management Tools
BOI client Gina Hitchens, of GHG Financial Planning, has launched her business Web site at: www.ghgfinancialplanning.com. The site is informative and interactive, and provides great calculators to use. Gina also teaches BOI’s workshops on Personal Money Management.
New IRS Provisions to Benefit Small Business Owners
Enacted two months ago, the American Recovery and Reinvestment Act of 2009 (ARRA) consists of many provisions to help small businesses and their employees. Some of these include the ability to: spread net operating losses over five years instead of two; deduct certain property as an expense in one year rather than depreciate it over several years; reduce estimated tax payments; state & local taxes can be deducted on certain new vehicles bought in 2009 and more, click here.
Summer Workshop Schedule Now Available!
BOI is pleased to announce that our workshop schedule for May – August 2009 is now available. The summer course catalog is available online, or you can pick one up the next time you visit our office. In addition to our Core Business-Development Programs, we are excited to offer you a wide range of classes in topics such as Financial Management, Legal and Tax, Sales and Marketing, Technology, Caregiver Businesses, and Life Coaching. Also check out our new industry roundtable discussion groups!
Review the course catalog, or if you prefer, our workshop calendar, to identify the upcoming workshops that will best meet your personal- and professional-development needs. We encourage you to meet with one of our business counselors to plan the curriculum that’s best for you. Workshops fill up fast, so get your registration in early. Call (317) 917-3266 ext. 100 or e-mail now to register!
IBJ Selects BOI’s O’Donoghue as One of its 2008 Influential Women
The Indianapolis Business Journal recently announced its list of 19 Influential Women for 2008. The Business Ownership Initiative is proud to note that its Executive Director, Sharon O’Donoghue, was among the women named.
“No matter their field, background or personal challenges they have faced, there’s one common thread among the women,” said IBJ Publisher Chris Katterjohn. “They all worked hard to get to where they are today. They have also extended their influence beyond their own jobs, to become opinion leaders in their industry and the community at large.” For more information, click here.
BOI Featured on ArtsWORK Indiana Web Site
Check out BOI Executive Director Sharon O’Donoghue on the ArtsWORK Indiana Web site as she explains how BOI can help working artists manage the business aspects of their arts careers. To see the four-part presentation, click here.
Let Us Help!
We help people create and develop their own businesses by inspiring entrepreneurship and providing access to the information, training and resources needed to start—and be successful. Though our services are available to anyone, we are a unique resource to people who for various reasons may lack access to the business, legal, accounting and financial resources necessary to start or grow a business. BOI, an Indianapolis-based nonprofit organization, helps more than 2,000 clients annually throughout central Indiana. Think of BOI as your link to exploring, starting and growing a successful small business.
BOI offers:
• practical, hands-on workshops to develop the knowledge and skills necessary to run your business effectively
• one-to-one business counseling, for guidance along the way
• life-skills coaching, in case you get stuck
• access to capital, nontraditional loans, and other financial resources
Not sure whether you have what it takes to start a business? Looking for an idea for a business to start? Or, do you have an idea, but you’re not sure if it can be transformed into a viable business? We’re ready to help you explore your business opportunities.
Are you committed to your idea and ready to launch your business, but need help? We can help you develop the knowledge and skills that lead to a successful business launch. We’re prepared to help you launch your business.
Do you own an existing business that you would like to take to the next level? Or, have you identified business issues that threaten your business? Put BOI to the test. Our practical services to help sustain and grow your business may be just the support you need.
If you would like to learn more about BOI workshops and services or schedule a free confidential business counseling session, please call (317) 917-3266, ext. 100 to discuss your needs.
Because of our commitment to serve all Indiana residents, BOI makes every effort to provide its services free, at minimum cost, or based on family income. Purchase the BOI LEAP Card and save on workshop fees. Attend any three $10 workshops for $25, or any five for $40.
