City of Indianapolis Awards $10,000,000 Financial Services Contract to Neighborhood Self Employment Initiative Inc Dba Business Ownership Initiative (February 2021)
City of IndianapolisCity · IN- Disclosed value
- $10,000,000
- From meeting minutes
- Approved
- Feb 22, 2021
The 30-second brief
The Council approved Fiscal Ordinance No. 4, 2021, allocating $10 million to Neighborhood Self Employment Initiative, Inc. d/b/a Business Ownership Initiative, through the Indy Chamber Rapid Response Hub, to fund Paycheck Protection Program loans for Marion County small businesses. The short-term loan capital is expected to be fully reimbursed in 2021 when the SBA purchases the PPP loans, making the initiative budget neutral.
Neighborhood Self Employment Initiative Inc Dba Business Ownership Initiative holds this financial services contract with City of Indianapolis.
Term as filed: Calendar year 2021; short-term loans to be reimbursed by SBA purchases of PPP loans.
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Contract details
- Contract type
- Financial Services
- Amount
- $10,000,000
- Document date
- February 22, 2021
- Term
- Calendar year 2021; short-term loans to be reimbursed by SBA purchases of PPP loans
- Agency
- City of Indianapolis
- Source document
- city-of-indianapolis-meeting-minutes-2021-02-22_7b7.pdf (Meeting Minutes)
More City of Indianapolis contracts
Questions about this contract
Who was awarded the financial services contract by City of Indianapolis?
Neighborhood Self Employment Initiative Inc Dba Business Ownership Initiative was awarded this financial services contract by City of Indianapolis, as recorded on February 22, 2021. The contract value is $10,000,000.
How much is the Neighborhood Self Employment Initiative Inc Dba Business Ownership Initiative contract with City of Indianapolis worth?
The Neighborhood Self Employment Initiative Inc Dba Business Ownership Initiative contract with City of Indianapolis is valued at $10,000,000, covering financial services work.
What type of contract is this?
This is a Financial Services contract, documented as a meeting minutes record.
Where was this contract approved?
This contract appears in city-of-indianapolis-meeting-minutes-2021-02-22_7b7.pdf (Meeting Minutes), dated February 22, 2021 from City of Indianapolis. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Neighborhood Self Employment Initiative Inc Dba Business Ownership Initiative hold?
Neighborhood Self Employment Initiative Inc Dba Business Ownership Initiative may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is City of Indianapolis currently buying?
Explore City of Indianapolis's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.