City of Indianapolis announces GAP Program to assist MWBEs
IN News - Published Feb 20, 2020
Mayor Joe Hogsett of Indianapolis and the Indy Chamber have launched the Growing with Accelerated Payment (GAP) Program for minority- and woman-owned business enterprises (MWBEs) in the city. The move comes after a recent disparity study commissioned by the city found disparities in the utilization of MWBEs in city contracting relative to their overall availability.
The GAP Program will accomplish its goals by providing low- or no-interest loans as well mentorship opportunities and business coaching to eligible MWBEs. These opportunities include development classes offered by Indy Chamber's Business Ownership Initiative.
Mayor Hogsett has promoted the program, saying it would play a part in helping to "break down barriers to capital" as well as "barriers to mentorship" for MWBEs.
For the city's page for the Office of Minority and Women Business Development, see https://www.indy.gov/agency/office-of-minority-and-women-business-development.