Indy organization, Regions Bank create grant relief program for small-business operators
INDIANAPOLIS (WISH) — The pandemic has left its mark in many ways.
For example, a growing list of businesses are now closed.
As the nation recognizes Hispanic Heritage Month, Indianapolis organizations are working to help many of those companies stay afloat.
Small-owned businesses represent the majority of job creation not just in the country but also in Indianapolis. It’s a vital asset in some of the minority and lower-income communities. One organization is kicking off its latest round of grants to help minority small businesses stay afloat.
Salazar Family Dental is the realization of the American dream. Its owner, Martin Salazar, came to Indiana from Peru more than a dozen years ago to open a family dental practice.
“Right from the beginning, we started this from scratch, so I had my student loans and I had my business loans,” Salazar said.
He knows what it’s like to power through. He’s managed to build a successful business while providing a vital resources to his predominantly Spanish-speaking clients.
“It’s important for them to understand exactly what their problems are so they can express also what their feelings are and we can work together.”
But the COVID-19 pandemic nearly took away all those years of hard work. Safety regulations forced them to close down for months an turn creating unfathomable financial loses.
“Of the businesses that we’ve supported so far 97% of them have been minority businesses,” said Ted Greene with Local Initiative Support Corp. Indianapolis (LISC). “And we think that is critical. And we’ve noticed during the pandemic there’s been a lot of business programs to support small businesses but some businesses are still being left out.”
LISC Indianapolis is the local office of a national organization that helps resident-led, community-based development organizations transform distressed communities and neighborhoods into healthy ones. LISC recognized challenges small, minority businesses were facing. In partnership with Regions Bank, the LISC created a small-business grant relief program.
“Regions supports diversity and inclusion, and this is really about making our communities better. Anytime that we can support initiatives that help companies in our community that just helps the communities thrive and succeed,” said Regions Bank marketing executive Erik Miner.
Salazar Family Dental is one of the 25 companies to receive the grant, which enabled him to buy additional personal protective gear and specialized equipment to keep the office safe and open.