Loans range from $5,000 to $35,000 with 3 months of delayed payment. Can be used as essential working capital for business expenses:

• Business rent or mortgage payments
• Payroll
• Supplier and vendor payments
• Insurance

Eligibility Requirements:

• Borrower’s primary residence and business must be in the city of Memphis.
• Must have $1 million or less in revenue.
• Must be operating for 3 years.
• 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.

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

How to Apply:

• Apply by phone: 901-636-9300
• Apply by email: jerry.black@memphistn.gov

One-time grants range from $10,000 to $25,000.

Eligibility requirements:

• The 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 of $3 million annually
• Must have been in business at least 6 months prior to March 1, 2020.
• Must complete online financial literacy learning series and sign affidavit.
• The 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.  https://www.census.gov/naics/ .

How to Apply:

• Apply online at http://www.memphisbdc.org/grants/.

• Up to $500 matching grant for small businesses who created and solicited donations through a GoFundMe account.
• Funds can be used to either help care for its employees or pay ongoing business expenses.
• Only one grant per business.

Eligibility requirements:

• Must be negatively impacted by mandates related to the COVID-19 pandemic
• Must be independently owned and operated
• Cannot be 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, chains, large companies and any other business prohibited in GoFundMe’s Terms of Service.

How to Apply:

• Apply online at https://www.gofundme.com/c/small-business-relief-initiative-and-fund-faqs.
• Add the hashtag #SmallBusinessRelief to your fundraiser story

• Up to 30% of funding COVID-19 funding assistance already awarded up to $10,000
• Funds can be used to pay for the following:
  • 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. Must be located within the Memphis Medical District’s boundaries.

Eligibility requirements:

• 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 another agency.

Ineligible businesses include:

• Payday lenders
• Liquor and tobacco stores
• Pawn shops
• Weapon dealers or shops
• Adult entertainment
• Passive real estate investors
• Home-based businesses

How to Apply:

• Apply online at https://www.mdcollaborative.org/small-business-remobilization-fund.

• Up to $25,000 at 4% fixed interest rate for 66 months with no obligation fees or repayment 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 fund is required. Pathway will provide assistance with plan creation.

Eligibility requirements:

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

Ineligible businesses include:

• Those whose 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
• Those primarily engaged in lobbying and political activities.

How to Apply:

• Call Travis Hughes at 888-533-7284 or visit https://www.pathwaylending.org/.

• Up to $25,000 at 4% fixed interest rate for 66 months with no obligation fees or repayment 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 fund is required. Pathway will provide assistance with plan creation.
• May be used in addition to other Medical District Collaborative funding.

Eligibility requirements:

• Must be a small business operating in the Medical District Collaborative’s footprint.
• Ineligible businesses include:
  • Those whose 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
  • Those primarily engaged in lobbying and political activities.

How to Apply:

• Call Travis Hughes at 888-533-7284 or visit https://www.pathwaylending.org/.

• Unsecure loan of up to $25,000 (First $10,000 is a grant).
• Secured loan of up to $2 million.
• Can be used for working capital to pay debt, vendors, payroll and disaster related obligations.
• Interests Rates:
  • 75% for non-profits
  • 75% for all

Eligibility requirements:

• 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.

How to Apply:

• Apply online at https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/economic-injury-disaster-loans.