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.
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 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.
MMDC Small Business Remobilization Fund - Up to $10,000 for neighborhood restaurants, cafés, retail stores, and other small businesses in the Medical District
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.
Greater Memphis Workforce Development Board Training Grants - This grant will allow Greater Memphis to provide additional training dollars to employers of Fayette, Lauderdale, Shelby, and Tipton Counties affected by COVID-19. The funding is only available for training taking place between September 1, 2020 and December 31, 2020.
Downtown Business Continuity Grant - Provides up to $2,500 grants for small, locally-owned, eligible businesses, with a preference for ground-floor businesses operating continuously within the Central Business Improvement District. Funds can be used for operational expenses, like rent or utilities; payroll; and buying merchandise, goods and/or products.
Access all paper forms here.
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