Today’s businesses are operating in a highly competitive environment. Many small business owners need to develop the necessary skills and/or the management expertise to successfully compete and plan for the future growth of their company.
The City of Memphis Business Development Center, our One-Stop-Shop for entrepreneurs and small businesses in Memphis, provides training, one-on-one counseling, and information to assist in business success.
Need help to grow your business? The Business Development Center is committed to being your #1 resource for small business development. As a part of our One-Stop-Shop service delivery, we have published a Business Resource Guide containing information on other business resource providers available to you. To review our network of resource partners please click here, Memphis Small Business Resource Guide.
Additionally, the center serves as a central point for businesses seeking data and financial resources from public and private entities. Seminars, training sessions and workshops are held throughout the year covering various topics How to Start A Business, How to Develop a Business Plan, Basic Accounting for Small Businesses, Tax Preparation, Cash Flow Analysis and Marketing and Advertising.
SPECIFIC LOAN PROGRAMS
The Business Development Center offers access to a wide variety of loans to meet every small business’s need.
Special loan programs have been established to provide financing to assist small, minority and women-owned businesses having difficulty qualifying for business loans. The major loan programs available at the center include:
City of Memphis Micro-Loan Program
This program is designed to enhance job growth and/or retention by providing small businesses with access to alternative financing for working capital, inventory, façade improvements, equipment, etc.
Contractors Assistance Program (CAP)
CAP offers a revolving loan fund to provide contractors with non-traditional lending options for contract financing, equipment purchases, etc.
Grow Memphis Fund
The purpose of the Grow Memphis Fund is to provide M/W/SBEs with access to capital beyond that available from conventional lending sources for working capital, fixed assets, and inventory. This program is designed to support job creation and the growth and expansion of eligible M/W/SBEs as a part of the administration’s Memphis Economic Growth Initiative.
The City of Memphis Division of Housing and Community Development (HCD) established the Contractors Assistance Program (CAP) to provide technical assistance and classroom training for local contractors.
Contractors Assistance Program (CAP)
The program is designed to assist small, minority and women contractors in becoming stronger competitors in the local construction industry. CAP offers a plans room, bonding and insurance assistance, various certification opportunities and state licensing.
Other Resource Providers
Other resource providers are available on premise at the Business Development Center to offer counseling, financing options, special training, seminars and other technical assistance programs.
Small Business Administration
The SBA helps entrepreneurs and existing owners to start, build, or grow their businesses. For details on all SBA programs and services, which include information on financing, loan applications, government regulations and licensing, please visit the website at http://www.sba.gov, or call the Tennessee District Office at (615) 736-5881.
Tennessee Small Business Development Center
Provides counseling, business planning and marketing assistance, training and cash flow analysis to start-up entrepreneurs and existing business owners. TSBDC is a network of professional business consultants that prides itself on providing expert business advice to all types of businesses. There is no charge for counseling. For more information visit www.tsbdc.org.
Black Business Association
The BBA is a non-profit 501 (c) (3) corporation established in 1974 and is the largest trade association of its kind in the Mid-South. BBA members all unite behind a single goal of empowerment through entrepreneurship and improvement of business and growth opportunities for minority and women-owned businesses. Primary services include “one on one” sales and marketing consulting.
Memphis Area Minority Contractor’s Association
Established in 1974 to assist minority and women contractors in the greater Memphis area. MAMCA’s goal is to bring contractors together for a brighter future. Technical assistance, training, access to plans and support are offered in all phases of construction. For more detailed information visit www.memphisminoritycontractors.com.