INDIANAPOLIS — The coronavirus is causing many businesses to either closed or partially closed.
Indianapolis Mayor Joe Hogsett says city leaders are trying to do what they can, but the economic losses will still be big.
“The business losses alone will be in the hundreds of millions, not the hundreds of thousands.”
Hogsett says that Indiana is positioned to receive disaster loan assistance from the U.S. Small Business Administration, but they are limited on a local level, so their goal is to help small businesses in Indianapolis position themselves effectively and efficiently to receive federal support.
“Use this time to prepare all documentation you’ll need to quickly apply for this federal relief.”
If you need help, Hogsett has partnered with the Indy Chamber to launch the Rapid Response Hub, which is offering help through the Indy Chamber’s Business Ownership Initiative.
“We’re making more and more resources available for business coaching, potential small business loan coaching, and resourcing,” Indy Chamber Leader Michael Huber.
Huber says they have some local and federal microloans available through different sources, but only enough to last a little while.
Huber says that during the coronavirus outbreak, the main priority is keeping people safe, and trying not to spread the virus. He says once we do that, we can focus on the long term recovery.
Hogsett says in Marion County, the businesses they want to see closed are places like entertainment venues, restaurants, bars and movie theaters.
“In terms of a small business owner, who is not operating in any of those categories, my answer is, whether you stay open or not is largely your decision to make.”
He says that as long as your employees remain safe, they want to do what they can to keep you open.