Davidson county small business Grants & Loans
Applications Open June 29, 2022
Pathway Lending serves as the administrator for the Nashville Small Business Recovery Fund in Davidson County, Tennessee. Use the instructions detailed here to get acquainted with the loan and grant program, and learn about the requirements for submitting a complete application.
[Updated 6/9/2022]– Metro Council approved $20 million in American Rescue Plan Act funds from the federal government to establish the Nashville Small Business Recovery Fund in the Mayor’s Office of Economic and Community Development (RS2022-1356, RS2021-1303).
The funding will support Nashville and Davidson County small businesses’ recovery from the pandemic’s impacts and will bolster economic development in Nashville communities recovering from the pandemic and prior economic challenges.
Council directed $18 million for Davidson County small businesses impacted by COVID with half ($9 million) going to grants small businesses will not have to repay and half ($9 million) going to low-interest loans recipients will repay at affordable, below-market rates and terms that facilitate ease of repayment.
A portion of these funds will cover costs associated with administering the programs.
Mayor John Cooper’s Office of Economic Development engaged Pathway Lending to administer the program in accordance with the Council resolution. Pathway Lending will distribute the funds, build the online grant application portal, and put in place the teams, processes and policies needed to run the program.
The Mayor’s Office has also engaged a group of 10 nonprofits that Metro Council approved April 19 along with the allocation of $2 million to disburse across the organizations based on the scale and scope of each nonprofit’s work.
The approved nonprofits include Bordeaux Business Council, Conexión Américas, Corner to Corner, Equity Alliance, Jefferson St. United Merchants Partnership (JUMP), Nashville LGBT Chamber of Commerce, Nashville Area Hispanic Chamber of Commerce, Nashville Business Incubation Center, Southeast Center For Cooperative Development, and Tennessee Latin American Chamber of Commerce.
FIRST STEP TO FUNDING? SIGN UP NOW FOR AN INFO SESSION
We’re here to give your small business and all of those we serve the best chance to benefit from these funding programs!
We’re holding information sessions to give applicants the information they need to prepare a successful application, whether you decide to apply for a grant or to apply for a loan.
Don’t know which one to apply for yet? Attend an information session where we’ll offer guidance and connect you with support for preparing your application.
Pathway Lending will periodically update, clarify or expand the Frequently Asked Questions on details of the Nashville Small Business Recovery Fund loan and grant programs throughout the application period. Please be sure to check back regularly for the most recent updates and information.
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