Build Fund Expands Successful Small Business Loan Program into Hamilton County

In June, the Build Fund expanded its small business loan program into Hamilton County. Operating in Marion County since 2015 as a nonprofit CDFI, the Build Fund’s expansion to the north will connect even more businesses in Central Indiana to flexible, affordable, and responsible funding to help them grow, create jobs, and support neighborhood development. Along with the Build Fund expansion, Renew Indianapolis announced a new partnership with Bankable, also a nonprofit lender and CDFI, based in Anderson, Ind., that has helped small businesses start up and grow for more than a decade.

“With the Build Fund’s new presence in Hamilton County and our partnership with Bankable, we hope to reach dozens of startup restaurants, breweries, fitness centers, and more who aren’t quite ready to obtain traditional funding,” said Steven Meyer, Renew Indianapolis CEO. “This is also beneficial for the communities where these new and expanded businesses are located. In addition to bringing good-paying jobs to the area, these businesses support the local community through their tax dollars, which pay for essential quality of life services like schools, parks, libraries, and public health and safety.”

Businesses in Marion – and now Hamilton – County can use the financing from the Build Fund to buy a property, expand at existing locations, or purchase equipment. As borrowers repay loans, their payments are used to fund new investments and create even more job opportunities across the area. The Build Fund and Bankable are both members of the Indianapolis Small Business CDFI Collaborative which mainly focuses on Marion County; however, this is a great example of two collaborative members growing their relationship and expanding into a new service area.

While the shared mission of Renew Indianapolis’ Build Fund and Bankable is to strengthen all types of businesses, both have a special focus on creating opportunities for those that have traditionally been underserved. Renew Indianapolis’ Build Fund supports minority-owned, women-owned, and veteran-owned organizations and business leaders that reflect the community’s diversity.