865 Opportunity Fund Helps Woman-Owned Business Increase Capacity

What began as a side hustle quickly turned into a full-time business. “I had no idea there was so much need,” said Jade Potter, owner of Milk+Honey Lactation Services. While a hospital NICU nurse, Potter started home visits in 2021 counseling new mothers on breast and bottle feeding.  The following year, she worked from Aught coworking space, assisting over 500 families. The number of clients served last year tripled to over 1,500 when she moved to her current location at 5344 North Broadway in Fountain City.  

Milk+Honey is the only lactation service in this region that accepts Medicaid. Their telehealth service is covered by most insurance. Clients drive from as far as surrounding states, and virtual clients include people from other countries. In addition to solving issues with breast or bottle feeding and creating custom plans for working mothers, Milk+Honey offers prenatal classes 3 times a month. Postpartum support, including a mental health survey and sleep plan, is also provided.

Upon receiving a small business loan from the 865 Opportunity Fund last November, Potter was able to increase her staff from two to four.  She learned about the new loan program from another member of Women in Entrepreneurship and contacted Aaron Owen, vice president of lending at Pathway Lending.

“Pathway has provided working capital and funding for renovations and expansions for businesses in the Knoxville region through the 865 Fund,” said Owen. “This capital played a pivotal role to Milk+Honey in acquiring the necessary staffing support to meet its increasing demand!”

The 865 Opportunity Fund is part of a collaborative effort aimed at expanding Knoxville’s small business ecosystem, with opportunities focused on minority- and woman-owned businesses in Anderson, Blount, Grainger, Jefferson, Knox, Loudon, Roane, Sevier, and Union counties. The fund is a collaboration between Pathway Lending, First Horizon, Pinnacle Financial Partners, and Regions Bank with an emphasis on providing loans between $5,000 and $50,000 to eligible small businesses.

“The Milk+Honey story is a great example of entrepreneurial resources in Knoxville coming together,” said Nancy Nabors, regional enhancement director for the Knoxville Chamber. “A small business owner, utilizing coworking space, hears about a local funding opportunity from an entrepreneurship group. It’s more proof that our area has everything a founder needs to grow.”

Businesses interested in learning more about the 865 Opportunity Fund can schedule an inquiry Zoom or phone call with Aaron Owen at pathwaylending.org/865 fund.

Founded in 1999, Pathway Lending is a community development financial institution (CDFI) certified by the U.S. Department of the Treasury. It has grown to become a major lending institution in the Southeast, lending over half a billion dollars across Tennessee and Alabama, propelling meaningful economic growth and creating affordable housing in communities across the region.

In addition to the 865 Opportunity Fund, the organization offers a complete catalog of small business and commercial loan products, from $5,000 to $5 million, and a full range of learning programs, from classrooms to one-to-one coaching, to businesses at any stage in any industry.

Get to know our mission and the stories of the entrepreneurs and communities we serve at PathwayLending.org.