The EDGE Board has approved a partnership with the Tennessee Small Business Development Center at Southwest Tennessee Community College (TSBDC) to provide assistance to applicants completing the ICED Loan application and to work with the applicants to identify resources and successful expansion strategies.
This is similar to the partnership that currently exists for NEED Grant applicants.
“Our experience with TSBDC and our NEED Grant applicants has been great,” said EDGE Senior Economic Development Specialist, John Lawrence. “They have really helped these businesses create solid recovery plans and even expand their businesses and reach new customers in some cases. As Memphis & Shelby County’s economic development agency, it is important that we serve all of our existing businesses at different stages of their growth cycle.”
As part of the ICED Loan application, businesses must:
- have registered for advising with TSBDC;
- received an initial assessment from the TSBDC; and
- scheduled a follow-up counseling session for no more than 45 days after the initial assessment.
EDGE will also accept verification of comparable business assessment and counseling from The City of Memphis Entrepreneurs Network Center, Communities Unlimited, Epicenter, or another recognized small business assistance agency.