If small businesses are vital to local economies, why don't more lenders help them? Good question. It's a fact that many small businesses aren't able to access traditional capital. But companies like First Tennessee recognize the value of small businesses in creating jobs and expanding economies, and they have donated $5 million to help them.
Working together
First Tennessee is a financial services company based in Memphis, Tennessee. The company recently invested $5 million in Pathway Lending's Tennessee Small Business Jobs Opportunity Fund, which helps businesses access capital so they can expand and create jobs. Pathway Lending, based in Nashville, is a certified Community Development Financial Institution that provides lending solutions to underserved small businesses in Tennessee. By working together, the two organizations are able to provide more financial support to more small businesses in Tennessee.
Important step
It's an important step toward increasing access to capital by small businesses. As Pathways President Clint Gwin explained, "This investment by First Tennessee will provide additional capital that will be leveraged to increase access to credit for small businesses throughout Tennessee. This funding will help ensure that more entrepreneurs have access to the resources they need to expand and create jobs in their local communities."
For more details about First Tennnessee, visit www.FirstTennessee.com
For more details about Pathway Lending's Tennessee Small Business Jobs Opportunity Fund, visit www.pathwaylending.org/resources/
