ANDERSON – The Flagship Enterprise Center’s nonprofit lending arm, Bankable, this week announced a new program designed for small businesses remaining open with demand for their goods and services, but which have seen cash flow adversely affected by the ongoing coronavirus pandemic.
The Bankable QuickBridge loan program aims to provide enough capital to stabilize those businesses to endure continued revenue disruptions in the coming months of coronavirus-related impacts until a normal flow of business returns, according to Bankable Executive Director Adam Hoeksema.
“We have already heard from hundreds of businesses, both existing clients and others, and the need for support is clear,” Hoeksema said. “We have funding to start offering QuickBridge loans now, but the demand is quickly going to be more than we can fund, so we are actively seeking additional partners to support this initiative in order to get funds into the hands of the small businesses that need it the most.”
Hoeksema said his staff is working closely with officials from the United States Small Business Administration, several financial institutions and economic development agencies and other groups to gather information on the resources available and share it with the small business community.
Bankable is also developing another program that Hoeksema says will focus on helping businesses restart and reopen once state and national restrictions are lifted.
Businesses interested in learning more or applying for a QuickBridge loan can visit bankable.org or call 765-356-9100.