Local Agencies Supporting Tullahoma’s Small Businesses During COVID-19

In Tullahoma and the surrounding area, the hardest hit workers have been our locally-owned, small businesses, small retailers, hospitality and restaurant industries, and sole-proprietors.  Despite financial relief programs being offered by the federal government, many owners are wondering whether these programs will be enough to help them be able to return once the crisis subsides.

Here are ways Tullahoma’s local government, public utilities, and Motlow College are working together to provide economic relief or assistance:

Halting or deferring financial burdens placed on small businesses

City of Tullahoma

• The City of Tullahoma is still offering small business loans through its USDA revolving Loan Program. Loans are for $15,000 with a three year payback at 4% below prime, with a 1% floor.
• Sign grants are available through the City for 50% reimbursement of new signage costs up to a maximum of $500.
• The City of Tullahoma Finance Department is also able to be flexible with loan terms for existing borrowers. If your business has been impacted by COVID-19, you are encouraged to contact the Finance team and discuss options.
• Use this IRS link to apply for your stimulus check if the IRS does not have your banking information https://www.irs.gov/coronavirus/economic-impact-payments

Tullahoma Utilities Authority:

• No disconnects until May 4.
• Waiving credit card fees until a future date.
• Waiving late fees for those customers who show a loss of income from CV19.

Elk River Public Utility

• ERPUD continues to provide safe, dependable natural gas service to our customers.
• We are working with customers individually on flexible payment options.
• The District is not assessing late fees or credit card fees at this time.
• We are providing a variety of COVID-19 information for our customers on the ERPUD Facebook page:

https://www.sba.gov/…/ coronavirus-covid-19-small-business-guidance-loan-resources

https://www.uschamber.com/…/ covid-19-emergency-loans-small-business-guide

https://home.treasury.gov/…/cares-act/ assistance-for-small-businesses

https://www.irs.gov/coronavirus-tax-relief-and-economic-impact-payments

https://www.irs.gov/coronavirus/economic-impact-payment-information-center

Motlow State Community College

Creating a local relief fund with a blend of financing options

The small businesses talked Motlow listened. This week, the institution announced an expansion to their relief initiative that focuses directly on assisting the small business community by providing free training for online sales and social media marketing. Small businesses in the Tri-Lakes area are now eligible to sign up for the MotlowTrained Small Business Accelerator program for free through the MotlowTrained Relief Fund.

www.thecommunitycollab.com, or email workforce@mscc.edu.

e-Commerce Accelerator Program: Do you have an existing website but not a way for customers to buy? Add a Buy Button and set up your first 5 items that you are ready to sell, add more items, and learn to easily make future edits to your site.

Online Presence Accelerator Program: Don’t have a website but need one quick? Set up a 1-page site together with 5 items you are ready to sell, including training so you can self-manage going forward!

Social Media Marketing Accelerator Program: Now is not the time to leave your followers on social media in the dark, so get even more connected with them. Share how you are adjusting your business to serve them safely and how they can support you. Work together with MotlowTrained on how to do that, whether it’s a feel-good campaign or a “business as usual” approach during this time.

Online repository for resources and information

https://www.wearetulalhoma.org