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Help available for small businesses in Memphis

Two different loans are available to help local small businesses whether the COVID-19 pandemic.

MEMPHIS, Tenn — Oh, this pesky pandemic.

It has resulted in deaths, in job losses - with an entire economy basically shutting down.

And some people, especially minority owned small businesses, might not recover.

What we are talking about is the backbone of the city.

Business Diversity and Compliance Director Joann Massey says, “A manufacturer’s business with 500 employees can be classified as a small business. But here in Memphis we are talking about micro businesses - sole proprietor - a business that has less than 20 employees.”

She is talking about community fixtures, she says. “You have the restaurants,” Massey says, “... small boutiques, beauty salons, barbers - all the people that employ others in the community. It impacts that neighborhood. It affects the quality of life for people who live in that neighborhood.”

Massey says there are two different loans available for businesses. If interested, contact her office for more information at (901) 636-6210.

Small businesses contribute to local economies by bringing growth and innovation to the community in which the business is established. Despite your small size, together you are a big part of the Memphis economy.On behalf of the City of Memphis Office of Business Diversity & Compliance I want you all to know that our team, our partners like Startco, Greater Memphis Chamber, DMC, EpiCenter, EDGE, BBA, MAMCA and others are here to support you.

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