FOR IMMEDIATE RELEASE
Media Contact:
Krista Buckel
Krista.buckel@cvky.org
FULTON, KY. (May 7, 2024) – Nonprofit Community Ventures (CV) today announced that the United States Small Business Administration (SBA) approved the organization’s request to offer SBA microloans to small businesses in the following Tennessee counties: Obion, Weakley, Henry, Lake, and Stewart.
“As we support small businesses in Fulton along the Kentucky-Tennessee line, entrepreneurs in neighboring South Fulton, Tennessee have requested similar microloan assistance,” said Brenda Weaver, CV President of Lending and Western Kentucky Disaster Relief. “To truly make a difference in the Twin Cities area, we know we need to support small business owners in northwest Tennessee, and we are grateful to the SBA for partnering with us to strengthen this economy by helping entrepreneurs grow their businesses.”
SBA Microloans offer entrepreneurs with a credit score of 580 or higher, $500 – $50,000 to purchase laptops, equipment, inventory, marketing supplies, or working capital to advance and grow their business. Microloans are an ideal solution for entrepreneurs desiring to establish or improve their credits score. Companies with a microloan also receive technical assistance from Community Ventures.
“We welcome Community Ventures to our community of lenders and resource partners in northwest Tennessee,” said SBA Tennessee District Director David Glasgow. “Access to all levels of capital is a critical part of what makes Tennessee and southwest Kentucky a great place for small businesses to start up and grow.”
If you’re an entrepreneur in northwest Tennessee and want to learn more about SBA Microloans with Community Ventures, call Business Development Specialist Bryan Almand at 270-804-1218 or email bryan.almand@cvky.org. To learn more about Community Ventures, visit cvky.org.
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About Community Ventures: Founded in 1982 as a community-based, non-profit organization, Community Ventures (CV) strengthens communities and improves the overall quality of life for Kentuckians by supporting job creation, small business ownership, and home ownership. CV is headquartered in Lexington with branch locations in Bowling Green, Campbellsville, Louisville, Mayfield, Millersburg, and Owensboro. For 21 consecutive years, CV has been named Microlender of the Year by the Kentucky Small Business Administration.