Sunday, December 14, 2025
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Building a more inclusive economy:

Q&A with JPMorgan Chase’s
Thelma
Ferguson

All communities should have the resources they need to strengthen their economic futures. This Black History Month, JPMorgan Chase is affirming its commitment to breaking down barriers — including the racial wealth gap — and promoting opportunity for all.

In recognition of Black History Month, we connected with Thelma Ferguson, Global Head of Diversity, Equity & Inclusion and Vice Chair, Commercial Banking at JPMorgan Chase, to get her insights on how she’s celebrating Black History Month, how JPMorgan Chase is advancing equity and inclusion and what she hopes to achieve in the year ahead.

  1. Tell us a little about yourself and your role at JPMorgan Chase? 
    The majority of my 25-year tenure at JPMorgan Chase has been in Commercial Banking, providing clients with the financial solutions they need to grow their businesses. Yet, no matter what my role was, I have always been focused on driving inclusion and equity.
    Today, as the Global Head of Diversity, Equity and Inclusion, I’m proud to look after our leading strategies to uplift employees, clients and the communities we serve as the bank for all. I also continue to serve as Vice Chair for Commercial Banking, building and managing key client relationships from coast to coast.
  2. What does Black History Month mean to you and how are you celebrating?

Black History Month is an important opportunity to reflect on the achievements and struggles of our Black communities. To me, this means honoring the immense reach, depth and richness of Black communities’ global history, in addition to its connection and intersection with other communities. At JPMorgan Chase, we organize events and activities to honor the designation, highlight Black history and culture, and enable impactful conversations and opportunities to continue our commitment to help create more equitable pathways for all.

  1. How is JPMorgan Chase working to advance a more inclusive economy?

We believe that we are only as strong as the communities we serve and the economies they support. We also understand that our company can play a role in helping communities grow, driving local economies, and helping people build their prosperity.

We’re helping to power economic growth by breaking down barriers and creating opportunities in communities across the globe. We do that through a focus on advancing diversity, equity and inclusion within our own workforce, as well as through business and community investments and policy advocacy.

  1. How has your company’s Diversity, Equity & Inclusion strategy evolved over the past couple of years as the spotlight has been put on the country’s lingering racial inequality and social injustice issues?

We’re working to address inequities, including the racial wealth gap, in a meaningful way. Our efforts to support inclusive growth date back decades. One more recent example is our $30 billion, five-year Racial Equity Commitment (REC) focused on advancing sustainable homeownership, driving small business growth, bolstering financial health and expanding access to banking. Through this commitment, we’re helping to create greater access to affordable home loans, low-cost checking accounts and financial health education workshops in the communities we serve and particularly in historically underserved neighborhoods. Our goal is to help close the racial wealth gap and ensure all members of communities – including our own employees – can access the resources they need to strengthen their economic futures.

  1. How should other companies and individuals be thinking about diversity, equity and inclusion as it relates to the growth of their business?

Inequity stifles economic growth. If you start with that fact, it becomes clear how engaging more communities and helping to create more equitable opportunities is just smart business. Diversity, Equity and Inclusion are not buzzwords. Their tenets should be core ingredients in the design and execution of your business strategies and run with the same commitment and rigor as other parts of your business.

  1. What are your goals for this year and what are you looking forward to in 2024?

This year, my goals include deepening our culture of inclusion for our 300,000 employees, across all backgrounds and geographies and perspectives. I’m also focused on further embedding inclusive practices and solutions within JPMorgan Chase to inform our business, gain efficiencies and deepen impact. I am optimistic about the road ahead and continued progress in helping to lift all.

Minority Business Highlight: Designs by Vonda LLC

Designs by Vonda LLC owner, Shavonda Pompy, says she has always been a trailblazer. She graduated from Horace Mann High School in Gary, Indiana and then attended Purdue University-West Lafayette. Graduating valedictorian from her high school class set the stage for her journey into Business Management, complemented by a Minor in Management Information Systems from Purdue University. Pompy’s pursuit of excellence continued with an MBA from Indiana Wesleyan, specializing in Human Resources. Her professional canvas spans the retail, healthcare, education, and manufacturing industries, weaving a rich tapestry of experiences.

Pompy says her path to entrepreneurship is a combination of “fun, professionalism, and self-made success.” She says that, “with creativity and resilience, one can turn an unknown hobby into a flourishing business.”

The idea for Designs by Vonda LLC began in 2019 when Pompy aspired to create “enchanting” balloon decor for her nephew’s baby shower without breaking the bank. Fueled by determination, she embarked on a journey into the world of balloon artistry.

Baby shower balloon decorations.
Party balloon towers and mantle piece.

She honed her skills through countless hours of experimentation and diligent learning through social media and what she deems as “YouTube University.” What followed at the baby shower was not just a visual spectacle but also a flood of inquiries from awe-inspired guests.

This marked a turning point. As the demand for her one-of-a-kind balloon designs surged, Pompy transitioned her passion into an official business. Designs by Vonda LLC was established in 2020 during the pandemic.

Decorative dress made of white balloons.
45th birthday celebration balloon display.

As her business has grown, she has gained clients and partners including the Indianapolis Black Chamber of Commerce, SOAR Consulting, and most recently the National Basketball Association. Designs by Vonda LLC earned its XBE certification as a part of the NBA’s 24 in 24 All Star Initiative.

Pompy says “Designs by Vonda LLC stands as a testament to growth, consistency, creativity and innovation.” It offers quality, cost-effective custom balloon décor that adds charm to various events. Each creation embodies the same dedication and craftsmanship that originated from a heartfelt family celebration, and is now a beloved and respected business specializing in crafting balloon magic. Pompy resides in Indianapolis with her husband of almost 7 years, Allah and two of her 7 children.

For more information, visit www.designsbyvondallc.com or contact owner Shavonda Pompy at info@designsbyvondallc.com. You can also follow Designs by Vonda LLC on Facebook and Instagram.

If you would like your business highlighted in the Indianapolis Minority Business Magazine, click here!

Business transactions: 2023 wrapped; 2024 predicted

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By JAMAR COBB-DENNARD

The 2023 small and mid-size deal space was a whirlwind. Interest rate hikes, capital sourcing transitions, news about buyer cool-downs, and market uncertainty due to bank failures and war made doing deals a bit trickier.

Interest Rates

Yes, money cost almost twice as much to borrow in 2023. Although no one wants to pay higher interest rates, the impact on dealmaking was significant. Increasing rates means that the amount of cash flow that can pay debt in an acquisition decreases. This translates to lower transaction values, lower loan amounts, and higher debt service. The interest rates did not kill deals, but it certainly made them harder to finance and cash flow. The Federal Reserve has signaled an interest rate cut this year, which should accelerate deal velocity and demand.

Bank Failures

Thankfully, there were not widespread bank failures. However, the failure of Silicon Valley Bank increased bank underwriting department’s scrutiny of deals. Closings took longer, buyers and sellers were asked for inordinate amounts of information, and equity contribution and collateral requirements increased. Now that the banking environment has stabilized, hopefully SBA and conventional underwriting processes will, too.

Capital Sourcing

Thankfully, private money was and is flush in the market. Many small investors selected to put their liquid cash in business acquisitions versus the market. Institutional investors have also been eager to put their money to work in going concern businesses.

Buyer Activity

Middle market buyer activity slowed in 2023, but small market deal activity has been off the charts. Buyers know that the supply of businesses on the market is increasing and they are hungry for new deals.

(https://www.bizbuysell.com/insight-report/)

Sale Prices

According to the BizBuySell Insight report, sale prices surged in 2023. Even though there is a lot of supply, and high interest rates, deals are still getting done at higher and higher prices.

Election and War Woes

Uncertainty is not good for financial markets. We may experience buyer reticence in Q3 as we get closer to knowing who the U.S. President will be. Multiple wars around the world have also created uncertainty in the market which could lead to a chilling of buyer activity.

Seller Preparedness

The market will not be able to beat a seller’s preparation to sell their company. If a business owner has groomed a general manager, kept accurate records, documented systems, created recurring revenue service and products, distanced themselves from business development and operations, and maximized margins and cash flow, buyers will be attracted and their business will sell.

The Silver Tsunami

Is the wave of Boomer retirements real? Google says yes:

(https://www.smbuyer.com/email/4-is-the-silver-tsunami-real)

Raw search data indicates that searches for how to sell or buy a business have increased sharply over the last few years. The tsunami is here, and service providers, buyers, and sellers must be ready to take advantage of it.

Jamar Cobb-Dennard is a business broker and M&A attorney. To learn more about how to buy and sell a business, listen to Jamar’s podcast, “What’s it Worth?”

Recorder wins Game Changer Award

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The Indianapolis Recorder Newspaper was selected as a recipient of the 2024 All-Star Minority Business Opportunity Week “GameChanger” Award by InnoPower. The ceremony took place at COhatch on February 16 in Downtown Indianapolis.

“This award is a testament to your relentless dedication and unwavering commitment to advancing Black businesses in Indianapolis,” according to InnoPower Founder and CEO, Emil Ekiyor, in a statement provided to the Recorder.

“We are honored to receive this award and grateful for the recognition. It motivates us to continue our mission of innovation and excellence. Thank you, InnoPower, JP Morgan & Co., and other sponsors for your support, and we’re committed to maintaining our momentum,” said Robert Shegog, president and CEO of the Recorder, who accepted the honor on behalf of the entire Recorder team.

During the 2024 All-Star Minority Business Opportunity Weekend, InnoPower celebrated the “incredible talent within the Black business community.” Their goal was to inspire other entities and individuals to take steps toward achieving the dreams that will create positive impact throughout the community.

For 129 years, the Recorder has been changing the game and landscape of media. By continuing to share information and tell stories that represent the community, the Recorder has upheld the standard of being a voice for the voiceless for more than a century. 

The Indianapolis Recorder Newspaper was awarded for its “remarkable contributions to the Indianapolis community.”

Unveiling the power of women’s stories: A call to celebrate unsung sheroes

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By DONEISHA POSEY

In a world where the narratives of women often remain in the shadows, there’s a profound significance in the act of sharing their stories. Each tale holds within it the essence of resilience, perseverance, and the relentless pursuit of equity. As we approach the Women’s Equity Brunch March gathering, themed “Hidden Stories of Resistance,” we are reminded of the transformative power that lies in amplifying the voices of women who have long been overlooked.

Our first brunch of 2024 is not just a mere gathering; it’s a celebration of Unsung Sheroes: Hidden Stories of Women’s Resistance. It’s an invitation to delve into the depths of history and contemporary society to uncover the remarkable contributions of women who have been at the forefront of change. These sheroes, often working behind the scenes, have pushed boundaries, broken barriers, and left an indelible mark on our world.

As we extend this invitation, we recognize the importance of honoring the hidden stories of resistance that have shaped our past and continue to shape our present. Seni Gonzalez, Nasreen Khan, and Tiffany Garner—three extraordinary women in Central Indiana—will be featured at our March brunch. Their stories exemplify the spirit of resilience and courage that defines the unsung sheroes of our time.

Seni Gonzalez Barron is a passionate entrepreneur who’s driven by service to others. Her relentless passion for business has led her to start a variety of businesses, most notably, Paco’s Taqueria. Today, Paco’s proudly employs over 60 employees that Seni cultivates into community leaders, with a vision of scaling nationally. Seni has also reimagined her career, recently co-founding The Halo App.

Nasreen Khan (she/her) is a diasporic creative and scholar who is of mixed Filipino and Afghan heritage. She grew up in Senegal and Indonesia and has recently made a home in Indianapolis. Her teaching and artistic practices, rooted in questions of equity and earth-based spirituality, grapple with questions of belonging; celebrate cultural margins; and confront colonization, racism, and misogyny. In this past year, she was also a member of the Looking Glass Alliance—a group of community voices who worked to diversify the perspectives in the IMA American galleries and mounted her first solo show that focused on maternal scarring. She also serves as the Art Editor for the Indianapolis Review.

Tiffany Garner serves as the CEO and Founder of Certify My Biz Inc., known for teaching the

underserved how to build profits through certifications and government contracting. Over the past decade, Tiffany has dedicated herself to breaking down barriers for underserved small business owners, women, and black & brown communities by everaging her business development expertise to create resources, provide education, and develop accountability communities to deliver impactful support to those in need.

These women, and countless others like them, may not always make headlines or receive accolades, but their impact is undeniable. They embody the spirit of resistance—standing up against injustice, challenging the status quo, and paving the way for a more inclusive and equitable society.

The March Women’s Equity Brunch is a unique opportunity to shine a spotlight on these hidden stories of resistance. It’s a day dedicated to uncovering the often-overlooked contributions of remarkable women throughout history and in our society today. It’s a call to action to acknowledge and honor the unsung sheroes who have shaped our world in profound ways.

We invite you to join us for a day of exploration, inspiration, and celebration. Tickets for the March brunch are on sale now, and we encourage you to reserve your spot to be part of this transformative event. Together, let’s uncover the hidden stories of resistance, amplify the voices of unsung sheroes, and continue the march toward a more just and equitable future.


All-Star Pitch Competition down to finalists

The NBA Foundation is down to the finalists in its third Pitch Competition as a part of its All-Star Week celebration and philanthropic contributions to Indianapolis. The pitch competition gives diverse tech entrepreneurs from Indiana the chance to win up to $150,000 in cash prizes.

“We know the pitch competition is a way the NBA Foundation and the Pacers Sports and Entertainment really can leverage the fact that the world’s eyes are going to be focused on Indianapolis because of the All-Star Game. What better platform to highlight the incredible entrepreneurial spirit and talent in the state of Indiana,” said Greg Taylor, executive director of the NBA Foundation.

Taylor said the goal of the NBA Foundation is to provide economic opportunity in various facets: workforce development, access to college, post-secondary training and education. The pitch competition is a perfect example of those goals put into action.

The spotlight of All-Star Weekend is not the first time the NBA Foundation has given back to Indianapolis. In 2022, the NBA Foundation donated to the Center of Leadership Development (CLD).

“I can say first, I think it has tentacles – the NBA Foundation. When they’ve invested in the mission of the Center for Leadership Development, it enables us to further our mission of helping Black youth become professional business and community leaders. But number two, the impact is not just on the young people, but on the young people’s families,” CLD President Dennis Bland said about the foundation.

Bland spoke about the similarities between CLD and the NBA Foundation’s values and goals. Since its creation over 45 years ago, CLD has been rooted in the Black community, not only studying problems, but also providing solutions.

“Well, that’s what I found with the NBA foundation: ‘Hey, we want to make an impact. We want to make a difference. We want to be a game changer. We want to see upward mobility.’ That’s the second common denominator: CLD has always been about upward mobility, ‘Hey, see a young person wherever they are, whatever their circumstance, your mission, your challenge is to view them through the lens of them being a future professional business [person] and community leader wherever they are.”

Through its work with CLD and the Pitch Competition, the NBA Foundation is providing tech entrepreneurs of all ages with a stage to shine.

Katara McCarty is one of the finalists for the competition and the creator and CEO of “Exhale,” a well-being and mediation app for Black, Indigenous and Women of Color.

During the height of COVID-19 in 2020, McCarty was concerned with police brutality and with how the pandemic was disproportionately affecting the Black community. The killings of Ahmaud Arbery, George Floyd and Breonna Taylor by police affected her immensely.

She started thinking about how she could help her community by providing something they need during this time of death and fear. From there, she began Exhale.

“We deserve to have resources that help us manage stress, anxiety and trauma,” McCarty said.

Soon after getting into the competition, she noticed how serious the NBA Foundation is about giving opportunities to Black and brown creators.

“I really feel like they’re holding space for not just our brilliance, but also understanding the ways in which it’s hard to enter into business as a Black and brown founder, as a diverse founder raising funding and getting people to notice what you’re doing. Just feeling like they’re holding space has been amazing,” McCarty said.

Klein Ileleji, co-founder and CEO of JUA Technologies International, is another finalist who said he is impressed with the experience so far. The big spotlight of the competition and all the support the NBA Foundation provides have been welcome surprises.

“They’ve made us feel at home, they want everyone to be successful, and whether I come in first, second or third doesn’t matter, I’ll still be a winner at the end of the day,” Ileleji said.

JUA creates solar-powered food dehydrators for households and small farms. Ileleji created this product to address the problem of food waste.

Ileleji is from Nigeria, and his product and company name are connected to his African roots. The word “JUA” means “sun” in Kiswahili, a language spoken in East Africa. His dehydrators can dry many fruits and vegetables and make them edible and easy to store for long periods.

From the coaching to the actual pitch day, the competition experience has been memorable for Ileleji and McCarty.

They got to pitch for the semi-finals on the Gainbridge Fieldhouse court, where the Pacers play, with the jumbotron showing their pitches as they spoke.

The final competition is Feb. 17 at the Indiana Convention Center and is one of many events during All-Star weekend.

Navigating tax season: A guide to financial wellness

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By DEVYNE HARRIS

As the calendar turns and the scent of spring wafts through the air, it’s time to face the annual ritual that sends shivers down the spine of many: tax season. While the mere thought of filing taxes can induce anxiety for some, understanding its significance and having a grasp of key concepts can alleviate stress and pave the way for financial empowerment.

Filing taxes is not just a legal obligation but also a crucial step in contributing to the functioning of our society. Taxes fund essential public services such as education, infrastructure, healthcare, and social welfare programs. When you file your taxes accurately and on time, you ensure that the government has the necessary resources to support these services, benefiting communities and individuals alike.

Moreover, filing taxes can unlock various financial benefits. For instance, if you’re eligible for tax credits or deductions, such as the Earned Income Tax Credit (EITC) or student loan interest deduction, you could receive a refund or reduce your tax liability. Filing taxes also establishes a record of your income, which can be vital for securing loans, applying for financial aid, or even renting an apartment.

Key Things to Know

Understanding the basics of tax filing can empower you to navigate this season with confidence:

  1. Know Your Filing Status: Your filing status—single, married filing jointly, married filing separately, head of household, or qualifying widow(er)—determines your tax rate and eligibility for certain deductions or credits. Choose the status that accurately reflects your marital and household situation.
  2. Gather Necessary Documents: Before diving into tax preparation, ensure you have all relevant documents handy, including W-2s, 1099s, investment statements, and receipts for deductible expenses like charitable donations or medical expenses.
  3. Be Aware of Deadlines: Mark your calendar with the tax filing deadline, typically April 15th, unless it falls on a weekend or holiday. If you need more time, consider filing for an extension, but remember that an extension to file doesn’t extend the deadline for paying any taxes owed.
  4. Explore Deductions and Credits: Familiarize yourself with available deductions and credits that could reduce your tax bill or increase your refund. Common deductions include those for mortgage interest, property taxes, and retirement contributions, while credits like the Child Tax Credit and Child and Dependent Care Credit can provide substantial savings.
  5. Consider Seeking Professional Help: While many individuals can successfully file their taxes independently, complex financial situations may benefit from professional guidance. Tax professionals can help navigate intricate tax laws, maximize deductions, and ensure compliance with regulations.

Full Circle by Divinity

For those seeking comprehensive financial services tailored to their unique needs, consider partnering with Full Circle by Divinity. Founded by a local Black woman entrepreneur, Devyne Harris, Full Circle offers holistic financial solutions ranging from credit repair to tax and accounting services.

With a commitment to financial wellness and empowerment, Full Circle goes beyond traditional accounting firms by providing personalized guidance and support to clients at every step of their financial journey. Whether you’re aiming to improve your credit score, optimize your tax strategy, or achieve long-term financial stability, Full Circle’s team of experts is dedicated to helping you realize your goals.

As tax season approaches, remember that filing taxes isn’t just about crunching numbers—it’s an opportunity to take control of your financial future and contribute to the well-being of your community. By understanding the importance of tax compliance and staying informed about key concepts, you can navigate this season with confidence and pave the way for a brighter financial tomorrow.

Embrace tax season as an opportunity for financial empowerment, and consider partnering with Full Circle by Divinity for comprehensive support tailored to your needs.

Devyne Harris is the founder & CEO of Full Circle by Divinity.

APPLICATIONS FOR The Six Sigma Racial Equity Institute GREEN BELT CERTIFICATION PROGRAM COHORT 4 WILL OPEN ON MONDAY, FEBRUARY 19!

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We are excited to announce that the application process for Cohort 4 of the SSREI Green Belt program will officially OPEN on Monday, February 19! Early registration ends with this open registration on Monday. So we invite YOU to apply today. You are receiving this invitation to apply early because you were either on the wait list or you are a key stakeholder.

The Six Sigma Green Belt Certification Program will prepare emerging Black Women and Black Latinas for a deeper understanding of leadership strategies and Six Sigma. As a result of this program, you will have more tools to be more effective in your leadership role. You will also be equipped with a better framework for tackling inequities in the workplace and in our communities.

Be among the first 50 applicants to be prioritized!

Don’t miss out on this chance to take proactive steps toward advancing your skills, your career, and equity. Submit your application today at https://www.sixsigmaindy.org/green-belt-apply.

Join us as we strive towards excellence and innovation together!

Minority Business Highlight: Jayde Ariel The Natural Hair Guru

Jayde Fincher, also known as the Natural Hair Guru, is an Indy-based vegan hair stylist and designer.

Born and raised around hair stylists and fashion designers in Fort Wayne, Indiana, Fincher has been a part of Indianapolis’ fashion and beauty industry for several years. Her work and designs have been featured in New York Fashion Week, Indy Black Expo and Meet the Artists.

Jayde Fincher, also known as the Natural Hair Guru, is an Indy-based vegan hair stylist and designer. (Photo provided/Jayde Fincher)

“For me, being in the beauty industry, I just found that there was a lack of hair stylists that really cared about our hair, African American hair, ethnic hair, healthy hair,” Fincher said. “Seeing all of that and seeing how we just really didn’t know how to take care of our hair, it made me want to pursue doing hair.”

In the fall of 2023, Fincher opened her own boutique in Carmel where she offers natural and curly services and styling using exclusively vegan-based products to “ensure the hair is healthy and beautiful.” Fincher’s specialty services include a vegan silk press, color and extensions.

Fincher is also the founder of Vegan Hair Fest Indy, which first took place in 2023. The festival is the first of its kind in Indiana, highlighting Black and minority owned vegan businesses around the city while uplifting the importance of vegan and natural hair care.

Jayde Ariel, the Natural Hair Guru’s salon boutique is located at 2508 E. 146th St., Carmel, IN. For more information on services or to book an appointment, visit jaydearielnaturalhairguru.com. To get in contact, call 765-631-2444 or email arielj1018@yahoo.com

This minority business highlight was composed by CHLOE McGOWAN at the Indianapolis Recorder, who can be reached at 317-762-7848 or via email at chloegm@indyrecorder.com. If you would like your business highlighted in the Indianapolis Minority Business Magazine, click here!

Minority Business Highlight: Saving Our Children’s Lives, Stop Gun and Domestic Violence Inc. 

Regina Jones is the creator and CEO of Saving Our Children’s Lives, Stop Gun and Domestic Violence Inc., a company she started over 17 years ago. Jones’ organization started because she wanted to provide any and everything women dealing with domestic violence need to get themselves to safety and stay there. 

Jones said she noticed there were no organizations in Indianapolis that were fighting for women dealing with this abuse, and because of her own experiences, she knew she had to be a voice and place of solace for these women. 

Whenever a woman dealing with domestic violence comes to her, she provides mental and physical care to them and their families. If the women are living with their abusers, she puts up money for them to stay elsewhere. If the women just need an ear to speak to and a shoulder to cry on, she provides that, and she continues to work with the women no matter what. Jones said the ongoing process of helping these women leave for good is often difficult, but she knows her work is essential.  

Her company is 501 C3 certified, which allows it to act as an official nonprofit and receive donations to support women who are victims of domestic violence. Jones also hosts events where she has speakers talk about their experiences and provide hope and guidance. At the events, she also sells goods, and the proceeds from her sales go directly to the nonprofit. 

“My goal is to get a shelter for these women and children. I want to be able to give them resources for jobs and to go back to school. After they do all that, I want to have an event, a graduation, where they can walk, and I want somebody to do their hair and makeup and let them feel pretty again,” Jones said, “I just want to know that my work is not in vain. That’s all I want.” 

To donate or contact Jones about getting involved, email her @Reginajones981@yahoo.com. She is also hosting a domestic violence event on Saturday, April 27.  

This minority business highlight was composed by Garrett Simms at the Indianapolis Recorder, who can be reached at 317-762-7847 or via email at garretts@indyrecorder.com. If you would like your business highlighted in the Indianapolis Minority Business Magazine, click here!” 

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