Pathway Lending serves as the administrator for the Nashville Small Business Recovery Fund in Davidson County, Tennessee.
Donor Name: Pathway Lending
State: Tennessee
County: Davidson County (TN)
City: Nashville
Type of Grant: Grant
Deadline: 07/31/2022
Size of the Grant: $35,000
Details:
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.
Funding Information
Maximum award amounts are based on a business’s annual gross receipts.
- Award Maximum/ 2021 Gross Receipts
- $5,000: $10,000 – $50,000
- $10,000: $50,001 – $100,000
- 10% of 2021 gross receipts: $100,001 – $349,999
- $35,000: $350,000 – $1,000,000.
Eligibility Criteria
To be eligible to receive a grant, a small business or microbusiness applicant must pass an online eligibility check, submit a complete application online with documents showing expenses during the most recent period of COVID impacts to businesses (only digital submissions will be accepted), and meet the following criteria:
- Currently active and open for business and must be able to show proof of operations in Nashville/Davidson County prior to 9/30/19;
- Has a physical location and postal address in Davidson County (does not have to be its principal location);
- Employs no more than 50 full-time employees at a time (those working 35+ hours per week; employees, not hires) between 3/1/20 and 3/31/22;
- Has valid registration with State of Tennessee and with Davidson County prior to approval;
- Be a for-profit entity with gross annual revenues no less than $10,000 and that do not exceed $1,000,000;
- Follows all federal, state, and local regulations; and
- Operates locally with independent local owners or majority local ownership; excludes businesses of a chain headquartered outside Davidson County.
Multiple locations in Davidson County will be limited to one combined application.
For more information, visit Pathway Lending.
