Financial Resources

Summary of Local Financial Assistance Programs

EDGE Neighborhood Emergency Economic Development (NEED) Grant - The NEED Grant was created to provide relief to neighborhood-serving businesses in our city's most distressed areas. Grants of up to $10,000 will be made to businesses located in New Markets Tax Credit Eligible Census Tracks throughout the City of Memphis that have experienced at least a 25% loss in revenue as a result of COVID-19. 

Shelby County Our Beautiful Comeback Grants - Owners of local nail salons, hair salons, barbershops, tattoo parlors, and other personal service businesses are eligible to apply for stipends of up to $2,000.

City of Memphis Small Business Stabilization Program – Provides economic relief to small businesses suffering substantial economic injury. Funding can be used to pay for the costs of business interruption, working capital and business recovery challenges; as well as cover costs associated with reopening safely in accordance with the Shelby County Health Department and the Back to Business Plan.

City of Memphis COVID-19 Relief Grants - The Community Development Block Grant Program is intended to provide funding to community partners including non-profit and for-profit organizations and faith-based organizations that intend to provide COVID-19 relief in the form of public services. 

City of Memphis Micro-Loan Program - These micro-loan programs will assist Memphis businesses experiencing hardships during the COVID-19 pandemic. There are no fees to apply.

  • Economic Hardship Emergency Loan Fund - Open to all for-profit industries except, non-profit, government, religious or retail.
  • Small Business Resiliency Loan Fund - Must follow the HUD guidelines for compliance with small business lending.

Welcome to Memphis COVID Relief Fund - The Welcome to Memphis COVID-19 Fund provides one-time grants of $300 to hourly workers in the hospitality industry who have been terminated or furloughed due to COVID-19. 

MMDC Small Business Emergency Assistance Fund - Businesses can request up to $15,000 in grant funding through this fund program.

River City Capital (Community LIFT) Recovery Loan - Up to $12,000 in funds, 60% forgivable

Pathway Lending is offering support with access to capital, educational, and technical services, including:

  • A rapid recovery loan with expedited underwriting (24-48 hours), deferred payments (6 months), lower-than-normal interest rates (4%) and extended terms (66 months).
  • A Roadmap to Resiliency virtual training class to assist business owners in navigating through uncertainties, disruptions, and quickly changing circumstances.

Grantspace has an aggregated list of available grants for small businesses, artists, individuals, and nonprofits. 

Tennessee Business Relief Program

Logo Sba

Streamlined Economic Injury Disaster Loan Application

Access all paper forms here

SBA COVID-19 Information

Definition of Economic Injury by the SBA

Businesses who would like free assistance completing their applications can register by following these steps:

  • Visit www.tsbdc.org
  • Select "Request Free Advising"
  • Select "Local Advising" and Choose Your County
  • Complete the Requested Information (it's a SBA Form 641 for confidential counseling)
  • A business counselor will contact you within 48 hours to set an appointment or start the process over the phone and/or via online video conferencing

List of National Small Business Resources

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