Shelby County Emergency Financial Assistance Programs

Program Name / Max Amount Program Details & Approved Uses Eligible Industries How to Apply

Small Business Administration Economic Injury Disaster Loan

Unsecured Loan: Up to $25,000 (first $10,000 is a grant).

Secured Loan: up to $2 million.

Can be used for working capital to pay debt, vendors, payroll and disaster related obligations.

Interest rates: 2.75% for non-profits; 3.75% for all others.

A small business with less than 500 employees (including sole proprietorships, independent contractors and self-employed persons), private non-profits or 501(c)(19) veterans organizations affected by COVID-19. Other businesses may be eligible, see SBA guidelines here.

Eligible businesses include retailers, restaurants, recreational and tourism-based, manufacturers, rental property landlords, hotels, wholesalers, agriculture cooperatives and aquaculture enterprises.

Online: https://covid19relief.sba.gov/#/.

SBA will make direct contact with applicants.

Previous Applicants: Previously submitted applications for the EIDL are still being processed by the SBA on a first come, first serve basis. There is no need to reapply.

Business that are interested in starting the repayment process before their 12-month window ends can sign up for an account on www.pay.gov.

City of Memphis OBDC Small Business Stabilization Program

Grants from $10,000 to $25,000

Owner’s primary residence and business must be located within the City of Memphis limits (Unincorporated Shelby County is not eligible)

Minimum revenue of $30,000 annually

Maximum revenue $3 million annual

Must have been in business at least 6 months prior to March 1, 2020

Must complete online financial literacy learning series and sign affidavit. Click here.

Business activity must be eligible under the program and in one of the industries listed in the North American Industry Classification System (NAICS) codes list.

Application & requested documents must be submitted in one email.

W9 & Invoice Required upon Approval.

Application will ONLY be accepted via email to obdcgrants@memphistn.gov (NO EXCEPTIONS)

City of Memphis Micro Loan Fund Economic Hardship Emergency Loan

Loans range from $2,000 up to $5,000.

For emergency working capital for expenses such as business rent or mortgage payments, payroll, supplier and vendor payments, insurance and utilities.

No interest due on loans for 6 months.

Borrower's primary residence & business must in the City of Memphis; have $1 million or less in revenue, operating for 3 years; and be certified with the City of Memphis Office of Diversity and Compliance (OBDC).

All for-profit industries, except non-profit, government, religious or retail are eligible.

Apply by phone: 901-636-9300

Apply by email: jerry.brack@memphistn.gov

*Must complete web-based counseling to qualify. Details on available sessions will be made to each applicant.

City of Memphis Micro Loan Fund, Small Business Resiliency Loan Fund

Loans range from $5,000 up to $35,000.

Can be used as essential working capital for expenses such as business rent or mortgage payments, payroll, supplier and vendor payments, insurance and utilities, equipment purchases and construction.

Delayed payments for 3 months.

Borrower's primary residence & business must be in the City of Memphis, have $1 million or less in revenue, operating for 3 years, and be certified with the City of Memphis Office of Diversity and Compliance (OBDC).

All for-profit industries, except non-profit, government, religious or retail are eligible.

Apply by phone: 901-636-9300

Apply by email: jerry.brack@memphistn.gov

*Must complete web-based counseling to qualify. Details on available sessions will be made to each applicant.

Memphis Medical District Collaborative Small Business Remobilization Fund

Up to 30% of funding COVID-19 funding assistance already awarded up to $10,000.

Funds can used to pay for operating capital, insurance, utilities, payroll, inventory, furniture, fixtures, equipment, debt refinance, marketing and retrofitting to accommodate social distancing. Applications must include explanation intended use of funds.

- Be located within the Memphis Medical District's boundaries.

- Business must provide goods and services for the residents, employees, and students in the Medical District

- Business must have been awarded COVID-19 emergency support dollars from a CDFI or other agency.

Ineligible businesses include payday lenders; liquor and tobacco stores; pawn shops; weapons dealers or shops; adult entertainment; passive real estate investors and home-based businesses.

Apply Online

Loan details can be found > here

EDGE NEED Grant

Businesses still open with a plan for 90 days of continuous operation can qualify for up to $10,000.

Temporarily closed businesses with a plan to reopen within 90 days, can qualify for $5,000.

Can be used for working capital costs such as rent or mortgage payments, supplier and vendor payments, insurance and utility bills, and payroll.

Business must remain operational for three years after grant award to maintain forgivable status.

- Business most have at least 25% revenue losses because of the virus

- Less than $1 million in annual revenues

- Located in a distressed area

- Must be a commercial enterprise located in the South City neighborhood (map), and

Current on City & County property taxes.

Ineligible industries include liquor and tobacco stores; adult entertainment; pawnshops, payday and title loans; car dealers, ministorage, gas stations, lending institutions; real estate development or rental; insurance; private clubs; non-profits including religious entities; home-based businesses and governments.

All others are at the discretion of the Economic Development Finance Committee.

Click here for the application

Email completed application to: need@growth-engine.org

Questions: Please email need@growth-engine.org or call 901-341-2100

*Must complete web-based counseling to qualify. Details on available sessions will be made to each applicant.

Pathway Lending Restart Loan Program

Up to $25,000 at 4% fixed interest rate for 66 months, with no origination fees or prepayment penalty. Delayed payments for up to 6 months.

Covers operating expenses including inventory, working capital, payroll and other mobilization expenses. Closing costs can be paid from proceeds.

A restart plan outlining how they will spend the funds is required. Pathway will provide assistance with plan creation.

Must be a small, minority- and women-owned business operating in Shelby County.

Ineligible businesses include those 33% or more of their revenue from gambling; alcohol, tobacco and firearm retailers; financial institutions; non-profits; governments; check cashing and bail bondsman; adult entertainment and those primarily engaged in lobbying and political activities.

Call Travis Hughes at 888-533-7284

Visit www.pathwaylending.org

Pathway Lending Restart Loan Program – Medical District Collaborative

Up to $25,000 at 4% fixed interest rate for 66 months, with no origination fees or prepayment penalty. Delayed payments for up to 6 months.

Covers operating expenses including inventory, working capital, payroll and other mobilization expenses. Closing costs can be paid from proceeds.

A restart plan outlining how they will spend the funds is required. Pathway will provide assistance with plan creation.

May be used in addition to other Medical District Collaborative funding.

Must be a small business operating in the Medical District Collaborative’s footprint. See the map here

Ineligible businesses include those who earn 33% or more of their revenues from legal gambling; alcohol, tobacco and firearm retailers; financial institutions; non-profits; governments; check cashing and bail bondsman; adult entertainment and those primarily engaged in lobbying and political activities.

Call Travis Hughes at 888-533-7284

Visit www.pathwaylending.org

GoFundMe Small Business Relief Program

Up to $500 matching grant for small businesses who created and solicit donations through a GoFundMe account.

Funds can be used to either help care for its employees/workers or pay ongoing business expenses.

Only one grant per business.

Businesses are eligible if:

Have been negatively impacted by mandates related to the COVID-19 pandemic;

They are independently owned and operated;

Are not nationally dominant within their industry

Can raise at least $500 for the business through a GoFundMe fundraiser started because of the COVID-19 pandemic; and

There are no fraud reports made against it.

Ineligible businesses include franchises, chain, large company and any other business prohibited in GoFundMe’s Terms of Service

Steps to Apply:

-Make sure you add the hashtag #SmallBusinessRelief to your fundraiser story

-Fill out this form to confirm your small business

-Raise $500 from your friends, families, and other connections

See the Program’s FAQs herehttps://www.gofundme.com/terms

Community LIFT Recovery Loan

Up to $12,000 in funds, 60% forgivable

- Existing business owners in Memphis and Shelby County

- Aspiring business owners with plans to open in Memphis and Shelby County

- Community Development Corporations in Memphis

- Charter Schools in Memphis

Apply Online

Shelby County Government - Our Beautiful Comeback Grants

Grants of up to $2,000 for nail salons, hair salons, barbershops, tattoo parlors, and other personal service businesses.

-Be located in Shelby County

-Owners must waive past-due booth rent and/or commissions that would have been incurred between March 2020 and May 2020

-Must follow social distancing, sanitation, and other Shelby Count Health Department directives

Apply Online

Shelby County Government – Share the Tab Grants

Grants up to $10,000.

Can be used to cover rent/mortgage, payroll, sanitization, expenses related to switching to a full-service restaurant, and more.

Limited service restaurants (or bars) impacted by COVID-19 shutdowns

Business must be located in Shelby County

Current on all Shelby County taxes

Have current TN Alcohol Beverage Commission or Restaurant license

Apply Online: https://www.shelbycountytn.gov/3669/Share-The-Tab-Grant.

Must submit a budget showing use of funds between 09/15/20 and 12/15/20

Greater Memphis Workforce Development Board Training Grants

Funds can be used to reimburse training costs for:

Instructors'/trainers' salaries (up to $50/hour)

Curriculum development

Textbooks and manuals

Materials and supplies

Tuition expenses (tuition defined as being provided by an institution regulated by the Tennessee Higher Education Commission)

Must be located in Shelby, Fayette, Lauderdale or Tipton counties in Tennessee

Be registered as a Tennessee for-profit business or other not-for-profit (not all qualify, evaluated case by case)

In operation at least one (1) year

Employ at least five full-time employees

Operation must be an in-demand, in-balance or declining industry that can justify nee

Current on all local, state, and federal tax obligations

Must be a financially viable

Must not appear on any federal suspensions or debarment list

Apply online here.

Black Business Association of Memphis COVID-19 Relief Fund

Grants up to $300 to personal care workers affected by the pandemic.

Must be a City of Memphis resident and operate an eligible industries in the city limits.

Eligible industries/occupations include barbers, cosmetologists, estheticians, hair braiders, make-up artists, massage therapists, nail technicians and personal trainers.

Must be able to provide proof of occupation by state issued license.

Apply online here.

Funds are available through December 31, 2020 or until they are exhausted

State of Tennessee Supplemental Employer Recovery Grant Program

SERG is a grant for businesses to assist severely impacted businesses during the COVID 19 shutdown by reimbursing costs incurred during the shutdown.

Eligible costs are those that have not been covered by business interruption insurance proceeds, Small Business Administration Paycheck Protection Program loans, Small Business Administration Economic Injury Disaster Loan or other federal funds.

Expenses paid between May 1, 2020 and August 31, 2020 are eligible.

Applicants will be required to submit support for costs associated with responses to the COVID-19 emergency or prove business disruption. Awards are capped at $30,000, except that businesses located in low to moderate income (“LMI”) census tracts, Opportunity zones, or Promise zones will receive an additional $500 added to the maximum allowable expenses.

10% is reserved for minority, women, disabled veteran and disabled owners.

Program details are available here: https://tncaresact.tn.gov/sites/default/files/guidelines/SERG-faqs.pdf.

Operating in TN as a domestic business or registered in another state with a primary TN location as of August 31, 2020.

Not a subsidiary of a business with consolidated annual revenues(receipts) in excess of $10 million.

Registered with the Secretary of State, Department of Revenue, or files a federal Schedule C as of August 31, 2020.

Operational since April 1, 2020, with the exception of temporary closures with documented proof. Provides proof of economic hardship due to COVID-19 related interruption of business or has eligible direct business expenses due to COVID-19.

Has not engaged in any illegal activity per local, state or federal laws or regulations.

Does not exist for the purpose of advancing partisan or other political activities, such as directly lobbying federal or state officials. A for-profit or 501(c)(3) or 501(c)(19) not-for-profit entity.

Has not already received an award under the Supplemental Employer Recovery Grant Program.

Ineligible Businesses:

-Lending and investment institutions

-Insurance companies Racetracks or gambling facilities

-Businesses owned by State of Tennessee employees or their family members living within the household Businesses engaged in any illegal activity

-Businesses that did not continue operations during the last 6 months

-Businesses that are not registered with the Secretary of State, nor registered with the Department of Revenue, nor filing a federal Schedule C as of August 31, 2020

-Businesses with no activity in the state of Tennessee

Apply online here: https://tncaresact.tn.gov/form/serg-application

Applications close December 29, 2020 or until all funds are exhausted

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