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SBDC-DSCC Helping Small Businesses During Pandemic

Press Release
Over $1.8 million in financial assistance has been provided to NWTN businesses

Shortly after the COVID-19 pandemic began, the Small Business Development Center Dyersburg State Community College (SBDC-DSCC) provided businesses in Northwest Tennessee with additional assistance to guide them through the COVID-19 pandemic.

“Since May 1, the Small Business Development Center at Dyersburg State has helped in excess of 65 businesses with the Paycheck Protection Program, the Economic Injury Disaster Loan and the Small Business Administration (SBA) Express Bridge Loan,” stated Van Wylie, director of the SBDC-DSCC. “These applications represent in excess of $1.8 million in loans and grants to business owners. As a result, 265 jobs have been retained in our area.”

Wylie states that more aid is available for qualifying businesses in Northwest Tennessee.

The Paycheck Protection Program is a SBA loan developed for businesses to help keep their workforce employed during the COVID-19 pandemic. The SBA will forgive loans if certain retention criteria are met.

Small business owners and non-profit organizations can apply for an Economic Injury Disaster Loan, which helps provide economic relief to businesses that are experiencing a temporary loss of revenue.

SBA Express Bridge Loans may assist small businesses who currently have a relationship with an SBA Express Lender to access a maximum of $25,000 quickly to provide vital economic support and overcome the temporary loss of revenue.

Applications and criteria for the aforementioned loans and financial assistance can be found on the SBA website at www.sba.gov. 

The SBDC-DSCC also offers businesses free consulting services and financial assistance in areas such as accounting, disaster planning, legal assistance, human resources, marketing, Occupational Safety and Health Administration (OSHA), Tennessee Occupational Safety and Health Administration (TOSHA), restart assistance, and more. Business owners who are veterans or who specifically serve veterans may also qualify to receive consulting and financial assistance.

For more information on services provided by the SBDC-DSCC, please contact Van Wylie at 731-286-3201 or wylie@dscc.edu.

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