Pathway Lending is one of nearly 1,000 nonprofits nationwide awarded funds by the Wells Fargo Foundation to support businesses and communities impacted by COVID-19. With a grant of $343,000, Pathway Lending will expand its efforts to address immediate and longer-term needs for small businesses across Tennessee.
COVID-19 interrupted businesses seemingly overnight and Pathway Lending understands it will take longer to get back up and running. With the generous support of the Wells Fargo Foundation, Pathway Lending has expanded its ReStart TN loan program and Advisory Services to help business restart operations and strategize for the road ahead. Pathway’s ReStart TN program provides funding to cover expenses associated with resuming operations, including inventory, working capital, payroll and other mobilization expenses, and the education component supports business owners through cashflow forecasting, marketing, business planning and more.
“We retooled our loan, advisory and educational offerings to support the small businesses in our community that really need the extra support in this challenging time,” said Amy Bunton, Pathway Lending’s COO. ” Pathway has always been committed to strengthening communities, and with the support from Wells Fargo, we’ll be able to help more small businesses as they navigate their restart.”