Are you an entrepreneur looking to get a leg up? First Merchants Bank can help!
We offer robust resources to help any small business grow and are proud to offer programs tailored to help Black, Indigenous, and Persons of Color (BIPOC) overcome the specific hurdles they may face when it comes to accessing capital or launching a new business endeavor.
In addition to our dependable small business deposit and lending services, we’ve compiled a helpful list of resources to help you launch your business, grow your bottom line, and connect with your community.
Plug In
Connect with some of our great partners who support, elevate, and advocate for Black- and minority-owned businesses in your region:
- Indianapolis Black Chamber of Commerce
- Central Ohio African American Chamber of Commerce
- Bankable Minority Loan Fund
- Chicago Minority Supplier Development Council
Indiana Capital Access Program (CAP)
A CAP is a special loan portfolio insurance program where the borrower and lender contribute a percentage – which the state then matches – to a loan or line of credit “loss reserve fund,” which serves as collateral in case of a default.
The CAP program is state-specific and is designed to help entrepreneurs obtain the credit they need to grow and expand their businesses while providing extra security to both the lender and the business owner.
Currently, this offering is only available to business owners in Indiana, but we’ll be expanding it to Michigan and Ohio-based entrepreneurs in 2023 – so keep an eye out for opportunities in your state!
SBA Express Line of Credit
We are a Small Business Administration (SBA) Preferred Lender and are proud to offer several SBA financing options, including the SBA Express Line of Credit. SBA financing options are tailored to aid qualified small businesses that may not be eligible for conventional business loans
If you need quick access to operating capital, an SBA Express Line of Credit could be the right choice for your business. This revolving line of credit can provide up to $50,000 in capital and is designed for small businesses that need quick access to operating capital. Borrowers must meet the SBA’s eligibility requirements and have been in business for at least 36 months.
Find out more about the SBA Express Line of Credit.
Have additional questions? Contact one of our attentive lenders, or visit your nearest banking center for more details!
