NOW AVAILABLE: SMALL BUSINESS ADMINISTRATION Economic Injury Disaster Loans in TN
 
The U.S. Small Business Administration is offering low-interest federal disaster loans for working capital to Tennessee small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).
 
These loan funds can be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.
 
Applicants do not go through a bank to apply. Instead apply directly to SBA’s Disaster Assistance Program at:
DisasterLoan.sba.gov
 
Tennessee Small Business Development Center (TSBDC) at Southwest Tennessee Community College Staff began training last week with SBA to assist small businesses with their EIDL applications in Shelby and Fayette Counties. No small business applying should pay anyone or a company for assistance. If you would like free one-on-one assistance with your application, want to know more about eligibility, or have other questions, please follow these steps:
 
2. Select “Request Free Advising”
3. Select “Local Advising” and Choose Your County
4. Complete the Requested Information (SBA Counseling Form 641)
5. TSBDC Business Counselor will contact you within 48 hours to set an appointment and/or start the process.
The interest rate is 3.75 percent for small businesses. The interest rate for private non-profit organizations is 2.75 percent. SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years and are available to entities without the financial ability to offset the adverse impact without hardship.
 
There is no cost to apply. *There is no obligation to take the loan if offered. Begin to gather this information:
Business information
Contact information and social security numbers for all applicants
Employer Identification Number (EIN) for business applicants
Insurance information
Financial information (e.g. income, account balances and monthly expenses) – Know the total amounts and payments due for debts that will be paid over the next 10 months or longer (i.e. mortgages, credit cards, etc.)
Other key information:
Use Internet Explorer or Mozilla Firefox to apply.
The ‘Help Button’ provides useful information for each page.
Use the ‘Save Button’ frequently.
Be patient and keep trying if you experience slow load times.
What’s next after applying? What should you expect?
You will receive email confirmation that your application has been submitted.
You will receive an email letting you know that your application is under review.
BE PREPARED: You will be contacted by someone from the SBA.
Have your monthly expenses and financial projections ready when contacted (TSBDC can assist).
 
TSBDC counseling will continue via phone, email and online video conferencing methods until further notice. If you have any questions, please email Mrs. Tammy Partee at tpartee@tsbdc.org or swtcc@tsbdc.org.

FOR IMMEDIATE RELEASE

Contact: Beth Okeon
beth@abomarketing.com
901.409.7607

Junior Achievement Seeks Entrepreneurs to Visit Classrooms During Entrepreneurship Week Nov. 16-22

(Memphis, TN) – Junior Achievement of Memphis announced that it will be celebrating JA Entrepreneurship Week Nov. 16-22. The initiative, designed to coincide with Global Entrepreneurship Week, will put entrepreneurs into high school classrooms across America during the week to share what inspired them to start their own businesses and to open students’ eyes to the opportunities provided by entrepreneurship. JA of Memphis is seeking entrepreneurs to visit area classrooms for about an hour during the week.

“JA is known for bringing entrepreneurship education into the classroom,” says Larry Colbert, president and CEO of Junior Achievement of Memphis. “What makes this initiative different is that it offers the opportunity for students to engage directly with entrepreneurs in the classroom, allowing these business leaders to effectively mentor young people in a group setting.”

Research conducted by JA shows that while young people look up to entrepreneurs such as Facebook’s Mark Zuckerberg, today’s teens may be more risk averse than previous generations and are seeking out mentors and role models to help them gain a better understanding of how to plan for the future. JA believes it is important to provide young people with an opportunity to engage with entrepreneurs to help them better understand the challenges and benefits of starting a business.

JA Entrepreneurship Week accentuates current JA programs by bringing an inspiring entrepreneur into the classroom for one hour during the week to share his or her experience with students. The program is designed to be simple for the entrepreneurs to implement, but impactful for the teens participating. For example, during a JA experience, students can learn how to create a business plan or successfully interview for a job.

To help engage entrepreneurs, JA will be working with several organizations, including the Young Entrepreneur Council (YEC) and the U.S. Small Business Administration (SBA). Memphis entrepreneurs interested in participating can contact Jennifer Loving, Program Manager for Junior Achievement of Memphis and the Mid-South, Inc. at 901-507-2075 orjloving@jamemphis.org.

To learn more JA Entrepreneurship Week, visit JA.org/Entrepreneurs.

About Junior Achievement of Memphis and the Mid-South:
Junior Achievement of Memphis and the Mid-South is a not-for-profit organization financed by businesses, foundations and individuals. JA’s purpose is to educate and inspire young people to value free enterprise, business and economics to improve the quality of their lives. Simply, JA teaches children ‘how business works.’ Junior Achievement is located in the heart of downtown Memphis at 307 Madison Avenue. For more information on Junior Achievement, visit http://cp.mcafee.com/d/2DRPoOcxMArhoosuoKeopdCQkkkm7QTT6jqaaab3Wrya9ISrdG-GIjBise8RcCTXeKyG8WO0GgYsguud7dNnkrK2H3G7yF1VSUGDpPhO3ZHuyYrdCPpI048WHWGNele00UrdEFLcf6PtPqpJUTsTsSyrh or call 901.366.7800.

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Entrepreneur Week