For all our business owners out there—we know many of you have been hit hard by the pandemic, and we want to remind you that there is help available to you if you need it.
On the federal level, the Small Business Administration (SBA) still has ample funds in their Paycheck Protection Program (PPP). If you’re not familiar with this loan, it was designed to provide a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.
There are many banks around town (including First Horizon, Bank of Bartlett, Bank Tennessee, Paragon Bank, and Renasant Bank) that are willing and able to help you navigate through these difficult times, even if you’re not a customer of that bank. To learn more about the program and how to apply, you can go here or stop by one of our local banks.
On a local level, The City’s Division of Housing & Community Development and Office of Business Diversity & Compliance are partnering on the Small Business Resiliency (SBR) loan fund, which offers loans from $5,000 to $35,000 and will delay repayment for 90 days. Applicants must show proof of being denied by the Small Business Administration or an SBA lender. They must be located within a distressed community within Memphis and be in business for at least three years.
The funds for the program are from the US Department of Housing and Urban Development (HUD) Community Development Block Grant (CDBG) Program.
The Economic Hardship Emergency (EHE) loan fund will offer loans from $2,000 to $5,000, and no interest for six months.
Businesses and their owners must be located within the City of Memphis, have less than $1 million in annual revenue and be in business for at least three years.
The EDGE grant program, Neighborhood Emergency Economic Development (NEED) offers between $5,000 and $10,000 to businesses that remain open with a 25 percent or greater reduction in revenue and a plan for 90 days of continuous future operation, and $5,000 for businesses that are temporarily closed due to the pandemic but have a plan for reopening within 90 days and staying open for 90 additional days.
NEED recipients must be located within New Market Tax Credit Qualified Census Tracts, have been open before March 1, 2019, and have revenue of less than $1 million. NEED recipients do not have to be SWMBE certified.
For more information on any of these programs and/assistance on applying to the SBA PPP you can contact OBDC Business Navigators by call 901-636-9300 or email email@example.com. For more information about the NEED program, call 901.341.2110 or email NEED@Growth-Engine.org.
Shelby County Health Department COVID-19 Daily Update: May 27, 2020
|Shelby County Cases||4581|
|Total Tested in Shelby County||67,789|
|Tennessee Total Cases||21,306|
*As of 2:00 p.m. 5/27/20
|Tipton County, TN||427|
|Desoto County, MS||485|
|Crittenden County, AR||297|
|Numbers current as of 10:00 a.m. 5/27/2020|
Shelby County Health Department is tracking clusters in facilities that serve certain vulnerable populations:
Here is information about clusters considered to be resolved. A cluster is considered resolved once a facility has gone 28 days without a new case.
|Date Cluster Identified||Facility Name||Number of Deaths||Positive Residents||Positive Staff|
|3/26/2020||Carriage Court Assisted Living Facility||4||7||1|
Here is the most recent testing and case information provided by the Shelby County Division of Corrections:
The testing positivity rate is the percentage of all tests conducted that are found to be positive. The chart below shows Shelby County’s testing positivity rates over time, as of May 18, 2020.
Shelby County Health Department has added a data page to its COVID-19 webpage: www.shelbytnhealth.com/coronavirus. It includes information about the geographic distribution of COVID-19 cases in Shelby County.
All of Shelby County, including the municipalities and the unincorporated areas are under Safer at Home orders. Some non-essential businesses may reopen under the guidance of Shelby County Health Directive #4, issued on May 18, 2020, which can be viewed here: www.shelbytnhealth.com/healthdirectives.
For more information about the Safer at Home order or to register concerns, the public may contact:
· The Shelby County Mayor’s Action Line: 901-222-2300
· The Shelby County Health Department’s COVID-19 Hotline: 833-943-1658
· Email firstname.lastname@example.org.