The Knoxville Chamber has released Capital Access Redefined, a strategy designed to fill the gaps in the financing continuum of new sources of capital. The white paper also details the need to address skills and support deficits among business builders and investors, which requires both education and preparation.
The Knoxville region seeks a continuum of funding sources to support both its entrepreneurial and small business sectors. This report lays out the key factors in a strategy focused on improving access to capital for all the region’s business builders as part of a phased, long-term strategic process to restore the cycle of investment in the region’s entrepreneurs.
This Capital Access Redefined strategy is one of the six Path to Prosperity priorities.
The strategy’s recommendations are below:
The 865 Opportunity Fund is a $6 million loan fund serving small businesses in the region, including Knox County and Anderson, Blount, Grainger, Jefferson, Loudon, Roane, Sevier, and Union Counties.
Pathway Lending and partners created the fund to improve access to capital for area small businesses, particularly those led by minority or woman business owners. The fund focuses on loans of $5,000 to $50,000.
Watch our webinar to hear from CDFIs in the area that can help small businesses and entrepreneurs gain access to capital. Learn more about what a CDFI is and how they serve underserved markets and populations.
You will hear from these local providers:
There are Opportunities on the Horizon – opportunities for investors to diversify and increase their portfolios while expanding our entrepreneurial ecosystem. Knoxville is experiencing unprecedented growth in deep tech and other startups. We need to create a capital continuum to keep them here. The three-part panel discussion series on Angel Investing is designed for accredited investors who would like to learn what it is and how to do it from local and regional industry experts, angel investors, and entrepreneurs.
When your business thrives, Tennessee thrives. Fund Tennessee connects business owners and entrepreneurs with the right resources at the right time.
Over the next decade, Fund Tennessee will administer $117 million in federal funding to qualifying Tennessee small businesses and entrepreneurs. Whether your business seeks equity investments, lending, or technical assistance, Fund Tennessee is positioned to provide equitable access to capital so your business can continue to succeed in The Volunteer State.
Similar to Workforce Redefined and Talent Redefined, the regional workforce development strategies, each recommendation includes a set of supporting components. The Chamber will work with its community partners to create and implement tactics in support of the recommendations.