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Indianapolis is offering City Market tenants rent deferral as COVID-19 restrictions continue to disrupt business.
Mayor Joe Hogsett announced Friday that the city has offered a two-month rent deferral for all tenants in the main hall of City Market. The city is the owner of the historic property, which is home to more than two dozen small businesses.
Through the program, merchants will have the opportunity to defer up to two months of rent and pay the funds over the remainder of their lease. The city says no additional fees will be charged, and the tenants will not accrue interest on the deferral.
Friday's announcement follows a decision by the city and Indy Chamber to shift the focus of the Business Ownership Initiative to emergency assistance for small businesses. The program offers free one-on-one business coaching and access to current and anticipated loan capital programs.
Indy Chamber and the city are also working to help businesses navigate the submission process for the U.S. Small Business Administration’s Economic Injury Disaster Loan program. More information on this process can be found at response.indychamber.com.
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