Small Business and Business Software

Nashville Small Business Recovery Fund

Nashville Small Business Recovery Fund – Pathway Lending serves as the administrator for the Nashville Small Business Recovery Fund in Davidson County, Tennessee. Use the instructions here to familiarize yourself with the loan program and detailed application requirements.

[Updated 07/31/22] – July 31 applications for grants from the Nashville Small Business Recovery Fund close. By August 15, all awards were fully funded: $2.5 million and $3 million were awarded in the North Nashville zip code. $3.5 million for emergency metro areas and $3.5 million for Over 450 small businesses have received funding! [Updated 06/09/2022] – Metro Council approves $20 million US$ of American Rescue Plan Act funds from the federal government for the Nashville Small Business Recovery Fund in the Mayor’s Office of Economic and Community Development (RS2022-1356, RS2021-1303) to establish The funding will help small businesses in Nashville and Davidson County recover from the effects of the pandemic and stimulate economic development in Nashville communities recovering from the pandemic and past economic challenges. The board has given 18 million USD to Davidson County small businesses affected by COVID, with half ($9 million) in grants that the small businesses do not have to repay, and half ($9 million) in low interest loans , which recipients pay back at affordable, below market rates. and conditions that facilitate returns. Part of these funds cover the costs related to the administration of the programs. Mayor John Cooper’s Office of Economic Development mandated Pathway Lending to administer the program under a council resolution. Pathway Lending will allocate the funds, develop an online grant application portal and develop the teams, processes and policies necessary to run the program. The mayor’s office also includes a group of 10 nonprofits that were approved by the Metro Council on April 19. and has 2 Mio Approved nonprofits include Conexión Américas, Corner to Corner, Equity Alliance, Jefferson St. United Merchants Partnership (JUMP), Nashville Area Hispanic Chamber of Commerce, Nashville Business Incubation Center and Tennessee Latin American Chamber of Commerce.

Nashville Small Business Recovery Fund

Nashville Small Business Recovery Fund

We are here to give your small business and everyone we serve the best possible opportunity to take advantage of this financing program!

Harris County Small Business Recovery Fund Grant Applications Open

We hold information sessions to give applicants the information they need to prepare for a successful loan application. We will provide guidance and contact you to assist with the application process.

For the best and fastest application experience, applicants should collect or prepare some documents before starting their loan request.

During the application period, we will periodically update, clarify or expand on the following frequently asked questions about the Nashville Small Business Recovery Fund Loan Program. Be sure to check back regularly for the latest information.

To apply for a loan under the NSBRF program, a small business or microenterprise applicant must meet the following criteria: Have not received a grant from the Nashville Small Business Recovery Fund; Currently active and open for business and must be able to provide proof of business in Nashville/Davidson County by 9/30/2019; Have a physical location and mailing address in Davidson County (does not necessarily have to be a principal location); Employs no more than 50 full-time workers (working 35+ hours per week; employees, not employees) from 03/01/2020 to 03/03/2022; Have a valid Tennessee or Davidson County registration prior to approval; a for-profit corporation with annual gross receipts of not less than $10,000 and not more than $1,000,000; Comply with all federal, state and local regulations; Operate locally with independent local ownership or control local assets (at least 51%); excludes chain companies with headquarters outside Davidson County; The minimum credit score is 600 – a credit score below 600 is not considered a consistent policy requirement; and can submit tax returns for the calendar years 2021 and 2020, the loan applicant’s personal financial statement and the company’s debt plan.

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Hispanic Heritage Month

Applicants must provide proof of business existence on or before 09/30/2019 and business income for the tax years ending 12/31 and 12/31/2020. For the best and fastest application experience, applicants should collect or prepare the following documents before starting their loan application: 2020 and 2021 tax returns (Schedule 1040 C or Federal Small Business Tax Return Form 1120 or 1065) A personal financial statement that includes all personal assets shows. and obligations for a person to apply for a business loan. Completed loan request form on Pathway website Completed online loan application (reference from Pathway Lending loan officer), including uploading the company’s debt schedule. a photo of any signature and guarantor, such as a driver’s license or passport. Canceled check or full statement and wiring instructions to a bank account in the name of the company. Upon completion: Davidson County Business Certificate or Tennessee Certificate of Incorporation, executed organizational documents (Operating Agreement, Articles of Incorporation, Partnership Agreement) to (enter name of loan company, names of officers/members or partners and any signature/pledge requirements)

To apply for a loan under the NSBRF program, a small business or microenterprise applicant must meet the following criteria: – have not received a grant from the Nashville Small Business Recovery Fund; -Currently active and open for business and must be able to provide proof of business in Nashville/Davidson County by 9/30/2019; – Has a physical location and mailing address in Davidson County (does not necessarily have to be a principal location); – Employs no more than 50 full-time workers (working 35+ hours per week; employees, not employees) from 03/01/2020 to 31/03/2022; – Have valid Tennessee and Davidson County registration prior to approval; – Be a for-profit entity with gross revenue of at least $10,000 and no more than $1,000,000; – Comply with all federal, state and local regulations; – Operate locally with independent local owners or large local owners; excludes chain companies with headquarters outside Davidson County; -His minimum credit score is 600 – a credit score below 600 is not considered a consistent policy requirement; and – Can submit tax returns for the calendar years 2021 and 2020, the loan applicant’s personal financial statement and the company’s debt plan. The following companies are not eligible for a loan under this program: – Companies with gross income over $1,000,000 in 2021. – All non-profit organizations, churches and other religious institutions – Companies whose main activity is political or lobbying. – Landlords and passive real estate businesses, including AirBnB and vacation rentals – Illegal companies or businesses – Adult entertainment businesses – Cannabis production businesses, tobacco shops and bars or liquor stores – Other types of industries or businesses Metro determines should be excluded when reviewing an application

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The company can borrow up to 20% in 2021. Gross Income: Maximum Loan Amount in 2021 Gross Income $2,000 – $10,000 $25,000 $50,000 $10,001 $20,000 0 0 0 0 0 0 0 – $70,000 $100,001 – $349,999 $70,000 $70,000 $100,000 – $349,999 00, $0,0,0,0,0,0,000, $0,0,0,0,0,000, $0,0,0,0,0,000, $0,0,0,0,0,000, $0,0,0, 0,0,000, $0,0,0,0,000, $0,0,0,0,0,0,000, $0,0,0,000, $0, 0 annual income and other indicators of their ability to pay the loan, including credit score.

Nashville Small Business Recovery Fund

Applicants must show proof of activity in Nashville/Davidson County and include supporting documents 2021 to 30/09/2019. State or federal tax return, business license or certificate of existence from the Secretary of State.

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To show income in 2021, applicants must file the 2021 tax return, such as Schedule 1040 C or Federal Small Business Tax Return Forms 1120 or 1065.

Yes, as long as the franchise is independently or majority owned and locally operated. Network companies headquartered outside of Davidson County do not qualify.

Metro Nashville has developed a grant program to prioritize North Nashville and depressed Metro Nashville areas by zip code and census tract.

IF YOU HAVE SATELLITE LOCATIONS UNDER NASHVILLE, BUT NOT A LOCATION(S), DOES THIS HAVE A NASHVILLE LOCATION? FOR EXAMPLE, IF YOU RENT FROM ANOTHER LOCATION IN NASHVILLE, CAN YOU USE THAT SPACE?

The Equity Alliance

Local ownership is NOT required. Operations from a rental location in Davidson County meet the eligibility criteria.

MUST THE APPLICANT LIVE IN NASHVILLE OR MUST THE PRINCIPAL STATE OF THE ORGANIZATION BE IN NASHVILLE?

The organization must be located in Davidson County. As a sole proprietor, the applicant is not required to reside in Davidson County.

Nashville Small Business Recovery Fund

WE HAVE BEEN OPERATING AS A NON-PROFIT ORGANIZATION SINCE 2013 BUT OUR NON-PROFIT LLC WAS RECENTLY ESTABLISHED. CAN YOU STILL QUALIFY?

Nashville Small Business Recovery Fund Meetings

Non-profit organizations are NOT eligible. “For profit” must have its own taxpayer identification number and meet all other applicable program criteria

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