At Pathway Lending, we actively seek opportunities to finance small business owners and entrepreneurs who have historically encountered difficulty accessing capital and loans. Through our funds like the Tennessee Rural Opportunity Fund, Knox County Technology & Jobs Fund, and Alabama Small Business Opportunity Fund, we’ve loaned millions of dollars to community businesses in predominantly low-or-moderate income neighborhoods, or whose owners are women, veterans or minorities.
In June of last year, we launched the Memphis Small Business Opportunity Loan Fund in partnership with Epicenter, a nonprofit entrepreneurship hub for the local community. We established the $15 million fund to improve access to capital, particularly for minority- and women-owned businesses. Through this fund, clients like River City Railroad are able to cover things like payroll and project expenses.
“Working with Pathway Lending has made it so my own bank wants to work with me on additional funding,” said River City Railroad owner Clarence Howard. “Memphis is booming, and we’re proud to be a part of that.”
Since 2010 the Tennessee Small Business Jobs Opportunity Fund has funded 154 businesses through $103.7 million in loans. Through the fund, businesses like Crescent Sock Company are able to continue operating their 116-year old family business – and sustain their legacy of treating employees like family – during periods when cash reserves run low.
“To us, our relationship with clients, vendors, and employees means everything,” said CEO Cathy Allen. “And now, Pathway is another one of our ‘family’ relationships.”
National Small Business Week is for owners, employees, lenders, investors and everyone who helps keep U.S. small businesses growing! Join the conversation online by using #SmallBusinessWeek.