Technical Assistance also Available to Help Nashville Small Businesses Impacted by COVID-19
If you are a small business that has been impacted by COVID-19, there are a variety resources to help – several of which are first-come, first-served and are becoming available starting this week.
In September, Nashville’s Metro Council approved CARES Act funding to serve Davidson County small businesses with a focus on minority- and women-owned businesses as well as music venues. Our city understands that small businesses are key local economic drivers and employers and have been disproportionately impacted by the pandemic.
The funding is allocated through a network of organizations: Conexión Américas, Nashville Area Chamber of Commerce, Nashville Business Incubation Center, Nashville Entrepreneur Center and Pathway Lending.
Grant applications open this week through Conexión Américas and Pathway Lending.
All applying businesses must be located in Davidson County, Tennessee.
- All applying businesses must be in existence for 12 months prior to the date of application.
- All applying businesses must be for-profit entities.
- All applying businesses must provide 2019 State or Federal Tax Returns or a 2019 Income Statement to verify Annual Gross Receipts and Operating Expenses.
- All applying businesses may not receive other Metro CARES Act grant funding for these expenses.
- All applying businesses may not be owned by a full-time Metro Nashville employee.
- Other grant eligibility criteria may apply. Submission of application does not guarantee receipt of grant funds.
Grants for Small Businesses Through Pathway Lending
Metro Council allocated $2 million in grant funds for small businesses through Pathway Lending. Pathway Lending expects to open the grant application period on Wednesday October 14, 2020, and applications will be first-come, first-served. In accordance with the Equity Alliance’s Our Fair Share report, a minimum of 30 percent of the total $2 million small business grant fund is to be distributed to minority-owned businesses (Resolution RS2020-516, Sec 12, 5). For more information and to check eligibility requirements, visit https://pathwaylending.org/metro-cares/.
Grants for Live Music Venues Through Pathway Lending
Metro Council allocated $2 million in grant funds for live music venues through Pathway Lending. Pathway Lending expects to open the grant application period on Wednesday October 14, 2020, and applications will be first-come, first-served. The funds can cover a maximum of 2 months of operating expenses, excluding payroll, to stay in business during the COVID-19 pandemic, with a maximum grant of $100,000 each (Resolution RS2020-515 and Resolution RS2020-547). For more information and to check eligibility requirements, visit https://pathwaylending.org/metro-cares/.
Grants and Technical Assistance for Small Businesses Through Conexión Américas
Metro Council allocated $200,000 for technical support and grant funds for small businesses through Conexión Américas (Resolution RS2020-516). Applications will open on Tuesday, October 13, 2020, 9 a.m. Conexión Américas will accept applications for financial assistance every Tuesday until resources are exhausted. In addition to the requirements listed above, these applicants must have had total annual revenue in 2019 between $35,000 and $250,000. The application for technical assistance will be open until November 30, 2020. Technical assistance includes but is not limited to marketing consulting and internet presence, and advice for food and restaurant businesses. For more information and to check eligibility requirements, visit https://conexionamericas.org/asistencia-negocio/.
Recovery Programs Available Through Nashville Area Chamber of Commerce
Metro Council allocated $100,000 for technical support for small businesses through the Nashville Area Chamber of Commerce (Resolution RS2020-516). Chamber staff are available for direct business assistance, including 1:1 calls to assist small businesses with questions, resources, and guidance around COVID-19 recovery (call 615-743-3000 or email info@nashvillechamber.com). The Chamber continues to enhance its focus on small business with a suite of virtual programs to support recovery. These include a new series for small and diverse businesses called Propel, the Area Advisory Councils, Coffee, Content & Conversation, Business Studio, the Next Normal and Growing Togetherwebinar series, and the Be a Good Neighbor campaign. Additional resources include the COVID-19 Response Huband COVID-19 Economic Impact Model. More information can be found at https://nashvillechamber.com/calendar/.
Recovery Programs Available Through Nashville Business Incubation Center
Metro Council allocated $600,000 for technical support for small businesses through the Nashville Business Incubation Center (Resolution RS2020-516). NBIC is offering services to up to 200 Davidson County businesses impacted by COVID-19. Programs include restaurant re-entry, financial services, strategic planning, digital marketing, diversifying revenue and legal support, among others. Classes will be held online, making them easily accessible from anywhere. Small businesses interested in participating should complete an online assessment to determine program eligibility. For more information and to check eligibility requirements, visit https://nbiconline.com/tn-cares/.
Recovery Programs Available Through Nashville Entrepreneur Center
Metro Council allocated $600,000 for technical support through the Nashville Entrepreneur Center (Resolution RS2020-516). The EC recently launched Renew Nashville, a citywide initiative addressing the significant challenges facing entrepreneurs and small businesses negatively impacted by COVID-19. In collaboration with local nonprofit partners across Nashville, the EC is leveraging its position as the hub for entrepreneurs, providing participants access to master-class resources, executive level advisors, and the support of the city’s largest business network. The program is free to the first 500 Davidson County small businesses to register. For more information and to check eligibility requirements, visit https://www.ec.co/renew-nashville.
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