INDIANAPOLIS – Build Fund, an initiative of Intend Indiana and certified Community Development Financial Institution (CDFI), advanced its commitment to promoting diversity in entrepreneurship and creating wealth-building opportunities for minorities and women by investing 100% of its loans in 2023 to minority- and women-owned businesses. Through this loan fund dedicated to helping businesses grow by connecting them to flexible, affordable and responsible funding, Build Fund directly invested nearly $620,000 into five businesses and leveraged another $1.2 million from bank partners and grants to the businesses.
The Build Fund supported the following businesses:
- Urban Construction Group
Urban Construction LLC (UCG) is a full-service home builder executing development, construction, marketing, design, and sales. UCG’s loan will go toward constructing one home and completing two other homes in the Martindale-Brightwood Neighborhood. - Mamba Investments LLC
Mamba Investments LLC provides real estate development and property management services. Mamba’s funding will go toward constructing a three-bedroom, two-bathroom home in the Near North community. - Freebirds General Contracting, LLC.
Freebirds General Contracting LLC. provides contracting services for both home and commercial construction and rehabilitation. Funding will go toward rehabilitating a single-family structure on contract for the West Indianapolis Development Corporation. - The Master’s Key, LLC. (Joy’s Helping Hand Childcare Center)
Joy’s Helping Hand Childcare Center is a licensed childcare facility catering to children from infancy to school age, emphasizing holistic child development. Their loan will go toward acquiring an additional site to serve downtown Indianapolis and achieve accreditation from the National Association for the Education of Young Children (NAEYC). - Davis Asphalt
Davis Asphalt of IN, LLC. offers asphalt repair, line stripping and seal coating services with a focus on affordable housing and quality materials. The Build Fund loan will provide capital to complete the construction of a home at 320 North Lasalle.
“I wanted to take the time to thank you for all the help and assistance that Intend Indiana has given,” Frank Davis, owner of Davis Asphalt, shared. “Your dedication and commitment to helping others have been a blessing to Davis Asphalt and my family.”
Dr. Jamyce Curtis Banks, President of the Board of Directors for the Indianapolis chapter of the National Association of Women Business Owners (NAWBO), also shared appreciation for the Build Fund’s impact on women entrepreneurs. “This mission-driven lending is critical to advancing women-owned businesses in our state, which creates more opportunities for wealth generation, job creation, strategic business partnerships, and public policy influence. When women have access to capital to grow their companies, they can create lasting legacies and opportunities for future minority and women business owners,” said Dr. Banks.
Deepening its commitment to addressing barriers to credit, the Build Fund has established a Special Purpose Credit Program (SPCP) designed to extend credit to African American small business owners who may face challenges securing loans through conventional means. This program ensures that growth opportunities are accessible to diverse entrepreneurs. That commitment has been recognized by the Indiana Economic Development Corporation (IEDC), which selected Build Fund to be a lender partner in its State Small Business Credit Initiative. Called the Legend Fund, Build Fund’s partnership with IEDC will allow it to more than double its investment in minority- and women-owned businesses in 2024.
“Our goal with the Build Fund is to provide small businesses access to affordable capital to grow their businesses and build wealth,” stated Intend Indiana President Stephanie Quick. “We are excited that 100% of our loans in 2023 provided this opportunity to minority and women-owned businesses.”
Intend partners with community-based organizations, nonprofits, foundations, banks, and state and local governments to leverage resources and deliver impactful programs designed to meet the needs of the community. Intend Indiana is also a chartered member of NeighborWorks America. To learn more about Intend Indiana and its mission-driven initiatives, visit www.intendindiana.org.
About Intend Indiana:
Intend Indiana, Inc. (Intend) is a nonprofit that advances comprehensive community development through innovative financing and development solutions that create and preserve affordable housing, support neighborhood revitalization efforts and foster small business development. Incorporated in 1987 to serve the near northside neighborhoods of Indianapolis, Intend has grown to provide community solutions across the state.
