Our History & Purpose

The Small and Minority-Owned Business Assistance Program was created by the Tennessee General Assembly by Chapter 830 of the Tennessee Public Acts of 2004. Chapter 830 required the State to develop by rule, an assistance program to support outreach to new, expanding, and existing Qualifying Businesses in Tennessee that do not have reasonable access to capital markets and traditional commercial lending facilities.

For purposes of the Program, a Qualifying Business means a Sole Proprietorship, a Partnership, a Limited Liability Partnership, a Limited Liability Corporation, or any other Incorporated entity which satisfies the following definitions under the Rules: is not an ineligible Business; is either a Small Business or a Minority-Owned Business; is eligible to do business in Tennessee; and is located in and maintains operations in Tennessee at the time Program Services are required and for the term that Program Services are provided.