Small Business Funding

Access to Capital

Business Ownership Initiative (BOI) is the lending arm of the Indy Chamber’s Entrepreneur Services division. We’re a certified Community Development Financial Institution (CDFI) and a microlender through the Small Business Administration (SBA), which means we can provide microloans to clients who may not qualify through traditional lending organizations—clients like you. Learn how easy it is to get the small business funding you need and get started on your application.

Get Started

In Two Easy Steps.

Are you ready to pursue a Business Ownership Initiative (BOI) loan, or discuss the opportunity with someone from our team?

Submit Your Application

Step 1

Schedule an appointment to discuss your funding needs.

Step 2

Submit a loan application for review

Real stories just like yours.

Shar

Shar is the owner of Shar’s Hair, LLC. As one of the only female, Minority-owned, Durable Medical Equipment (DME) businesses serving Indiana, Ohio, and Michigan areas, Shar found support from BOI lending to purchase inventory and upgrade software systems to meet the demand of her market.

Summer

Summer is a new entrepreneur who is launching a startup. She needs $20,000 of working capital to operate her business before she has steady sales. Because Summer is a first-time entrepreneur, a business coach is able to help refine her business model and projections until she is loan-ready.

José

José is a single father who runs a home-based baking business. He needs $5,000 to make upgrades to his space. Even though he doesn’t have a strong credit score, José was able to demonstrate his financial stability which allowed him to receive a BOI loan for his long standing business.

Get Business Funding Today

Meet the lending team

Agnes Theodossiou

Director of Lending and Coaching

Braxton Martorano

Project Manager of Strategic Initiatives

Julie Stewart

Business Loan Coach

LENDING.

Frequently Asked Questions.

Start Your Application

What is a BOI loan?

We provide loans of $1,000 – $50,000 to an existing business with at least 6 months of business financials.

I would like to meet with a coach to discuss getting a BOI loan. What should I bring to my first appointment?

We have an intake form that we will have you complete at the beginning of the first meeting. If you have an existing business, it is beneficial to bring your financials for the past two years because that will help with the initial discussion. In the meeting, the coach will explain the steps required to begin the loan process.

Are there limitations to how I can use the funds?

There are restrictions for how the loan can be used. You cannot use the loan to refinance personal debt, purchase real estate, pay taxes or pay owner’s salary.

Does BOI offer lines of credit?

No, all of our loans are structured as a term loan with a fixed interest rate.

What are your interest rates and fees associated with your loans?

Our interest rates are typically in the 6%-9% range with fees (application and closing) of up to 3%. There are no prepayment penalties with a BOI loan.

Does the location of the business matter?

Yes, we serve clients and businesses that reside in Marion, Boone, Hamilton, Madison, Hendricks, Hancock, Shelby, Johnson, and Morgan counties. Unfortunately, we cannot offer loans to clients and businesses outside those counties.

Are there restrictions to the types of businesses that can get loans?

We offer loans to for-profit businesses. Currently, we do not lend to nonprofit organizations, unless the business meets one of the following exceptions:

It is a nonprofit whose main mission is to address the food desert crisis in Central Indiana.
It is a nonprofit whose main mission is to offer non-religious and non-denominational childcare services.