February 14, 2008
SBA Administrator Visits Tennessee, SBA Loans Available for Qualified Applicants
| ECD Commissioner Matt Kisber with SBA Administrator Steve Preston, at right, speak with Union University President David Dockery in Jackson, Tenn. on Monday. |
ECD Commissioner Matt Kisber joined SBA Administrator Steve Preston to tour areas damaged by tornadoes this week and inspect the agency's disaster recovery operations. Administrator Preston outlined services available through his agency to those affected by the storms in a news conference in Madison County.
"We look forward to working with the State of Tennessee to make low-interest federal disaster loans available to homeowners, renters and businesses," said Administrator Preston. "We will be swift in our efforts to help Tennessee disaster victims rebuild their homes and businesses."
Counties declared by the federal government as major disaster areas, including Benton, Hardin, Hickman, Houston, Lewis, Macon, Madison, Montgomery, Perry, Shelby, Sumner, Trousdale and Williamson, are eligible for both Physical and Economic Injury Disaster Loans from the SBA.
Rep. Jimmy Eldridge, Commissioner Kisber, Governor Bredesen and Rep. Johnny Shaw tour tornado damage last week. |
The contiguous counties of Carroll, Cheatham, Chester, Clay, Crockett, Davidson, Decatur, Dickson, Fayette, Gibson, Hardeman, Haywood, Henderson, Henry, Humphreys, Jackson, Lawrence, Marshall, Maury, McNairy, Robertson, Rutherford, Smith, Stewart, Tipton, Wayne and Wilson are only eligible to apply for SBA Economic Injury Disaster Loans.
Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible up to $40,000 to repair or replace damaged or destroyed personal property.
Businesses of any size and private non-profit organizations may borrow up to $1.5 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. SBA can also lend additional funds to help with the cost of making improvements that protect, prevent or minimize the same type of disaster damage from occurring in the future.
STORM RELIEF ASSISTANCE For more information on storm relief efforts in Tennessee and to view a video message from Governor Bredesen, please click here. TEMA & FEMA Joint Media Information Center: Donations & Volunteers Hotline: Federal Emergency Management Agency: SBA Customer Service Center: |
For small businesses only, the SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic Injury Disaster Loans assistance is available regardless of whether the business suffered any physical property damage.
Interest rates can be as low as 2.750 percent for homeowners and renters and 4.000 percent for businesses with terms up to 30 years. Loan amounts and terms are set by the SBA and are based upon each applicant's financial condition.
To be considered for all forms of disaster assistance, victims must first call the Federal Emergency Management Agency (FEMA) at 1-800-621-FEMA (3362). Additional details on the location of Disaster Recovery Center(s) and the loan application process can be obtained by calling the SBA Customer Service Center at 1-800-659-2955.
The filing deadline to return applications for physical property damage is April 7, 2008. The deadline to return economic injury applications is November 7, 2008. For more information about the SBA's Disaster Loan Programs, visit www.sba.gov.
Governor Bredesen Named Chair of the Southern Technology Council
Jim Clinton of the Southern Growth Policies Board, ECD Commissioner Matt Kisber and Les Guice of Louisiana Tech University attend STC meetings in Nashville Feb. 7-8. |
Governor Phil Bredesen has been selected to chair the Southern Technology Council, an advisory council focusing on technology and innovation policy issues for the Southern Growth Policies Board. ECD Commissioner Matt Kisber has been named co-chair.
The council is comprised of a diverse group of professionals in the science, technology and economic development fields with the principal mission of strengthening the Southern economy through innovation and technology.
"Through the Southern Technology Council, I hope to continue pushing Tennessee forward in scientific and technological innovation by expanding our initiatives to the regional level," Bredesen said. "This council will help provide Southern businesses with the tools to be technologically proficient, knowledge-driven, and globally competitive."
Tennessee Quick Facts
Even though no major battles were fought there, Loudon County did not escape the destruction and devastation of the Civil War. The bridge at Loudon provided a strategic link between Knoxville and Chattanooga and was the only East Tennessee railroad bridge across the Tennessee River. With massive troop movements through the area, the bridge remained under constant surveillance during the war and was partially burned twice by retreating Confederate forces.
Source:
Tennessee Encyclopedia
Schedule Alert
Feb. 15
Humboldt
Commissioner Kisber will attend the Gray Metal South, Inc. ribbon cutting ceremony at 11 a.m.
Feb. 19
Nashville
Commissioner Kisber will speak at the Leadership Roane County meeting at 2:15 p.m.
Feb. 20
Nashville
Commissioner will speak at the TSU Windows on the World Lecture Series at 12 p.m.
To request ECD Commissioner Matt Kisber to speak or attend an event, please contact Jennifer Alward at (615) 253-1852 or jennifer.alward@state.tn.us
Feedback
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News Briefs
Business Development
BERO
Celebrate National Entrepreneurship Week in Tennessee
The 2008 National Entrepreneurship Week is scheduled for Feb. 23 - March 1. In support of the event and to highlight successful entrepreneurs and small business owners in Tennessee, ECD is planning to promote all the week's activities statewide.
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If your organization is creating a special event or program or if you have an ongoing program element that would be relevant to entrepreneurs, please share it with ECD. If you do not have a program in place but would like to participate in the week through another avenue, please contact us as well. Information may be shared with Michelle Proctor at (615) 741-2626 or by email at Michelle.Proctor@state.tn.us.
BERO Sponsors SBA Loan Workshops
BERO is co-sponsoring some upcoming SBA Loan Workshops with SCORE, the "Counselors to America's Small Business," on February 21 or 22 in Nashville. Business owners will be instructed on the step-by-step process of applying for an SBA Community Express Loan, available in amounts between $5,000 and $25,000.
WHAT: Community Express Loan Workshop
WHEN: February 21 at 5 p.m. or February 22 at 10 a.m.
WHERE: Disciples of Christ Conference Room, 50 Vantage Way, 2nd Floor, Nashville
WHO: Full- and part-time businesses are eligible
HOW: Reservations are not required. For more information, click here.
BERO Co-Sponsors TDOT Quarterly Meeting
BERO will co-sponsor the Tennessee Department of Transportation Quarterly Meeting in March to educate companies on doing business with TDOT, as well as discuss upcoming construction projects. If you want to conduct business with TDOT or if you would like to increase your current business, this quarterly breakfast is a great opportunity for your firm.
WHAT: TDOT Quarterly Meeting
WHEN: Tuesday, March 4
WHERE: TDOT Regional Office, 6601 Centennial Blvd, Nashville
WHO: Companies interested in doing business with TDOT
HOW: Please RSVP by February 26 to Bonnie Daniels at (901) 276-0157 or toll free at (866) 765-4274.
Community Development
Local Planning
Effective Date set for Coffee, Franklin and Hickman County DFIRMs
New Digital Flood Insurance Rate Maps (DFIRMs) will take effect on August 4, 2008, for Coffee, Franklin and Hickman counties, along with their respective municipalities.
Nashville's Local Planning staff will be working with each community and developing the necessary local ordinance for adoption in order to remain in the National Flood Insurance Program (NFIP) prior to the August 4 deadline. For additional information concerning the NFIP or the map adoption process, contact Stanley Harrison at 423-434-6476 or stanley.harriosn@state.tn.us.
Grants and Loans
Phillip Miller & Associates Receives Small Business Energy Loan
Phillip Miller & Associates, a law firm located in Nashville, recently installed a 5.1 KW solar photovoltaic (PV) electric generating system in its office building. The installation cost was financed by a 3 percent interest loan received under the Small Business Energy Loan Program administered by ECD's Grants and Loans Division.
The law firm's system is also eligible for a 40 percent grant under the Tennessee Clean Energy Technology Grant Program. Successful applicants can receive a grant of 40 percent of the installed cost of an approved system up to a maximum of $75,000. Approved systems under the program include solar photovoltaic (PV) and wind energy electric generating systems, solar thermal water heating systems, hydrogen fuel cell systems and hybrid solar lighting systems.
For more information on either the Small Business Energy Loan or the Tennessee Clean Energy Technology Grant programs, please contact Clinton Berry at 615-253-1943.
Technology
Tennessee Technology Development Corporation
TTDC Offers Statewide SBIR/STTR Forums in February
The Tennessee Technology Development Corporation (TTDC), the University of Tennessee and other regional partners will host Small Business Innovative Research (SBIR) and Small Business Technology Transfer (STTR) Forums statewide throughout February. The SBIR/STTR Program is a competitive program providing research and development funding to qualified small businesses in order to stimulate innovation and development in high technology areas.
TTDC offers an SBIR/STTR Phase 0 Grant Program to assist Tennessee small businesses in applying to the federal SBIR/STTR Program for Phase I technology development funding. The goal of the Phase 0 Grant Program is to increase the quality and competitiveness of Tennessee proposals, ultimately resulting in a higher number of federal SBIR/STTR Phase I Awards to Tennessee small businesses.
University faculty, entrepreneurs and small businesses interested in technology development and innovative applied research are encouraged to attend one of the sessions listed below. Please RSVP to Sara Ebert at 615-673-4419 or sara.ebert@tntechnology.org. For more information, visit www.tntechnology.org.
Chattanooga
February 15
8 a.m. - 9:30 a.m.
UT SimCenter
Nashville
February 19
8 a.m. - 9:30 a.m.
Cool Springs Life
Sciences Center
Knoxville
February 22
1 p.m. - 2:30 p.m.
UT Conference Center
Tri-Cities
February 22
8 a.m. - 9:30 a.m.
ETSU Innovation Lab
Memphis
February 26
8 a.m. - 9:30 a.m.
FedEx Institute of Technology
Recent News
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Daily News Journal:
"11,000 Jobs Saved Through Retraining Program" In his State of the State Address, Bredesen spoke of the importance of taking steps to ensure the Tennessee economy continues to grow. Commissioner Neeley and the State Workforce Investment Board have set aside $2 million in federal Workforce Investment Act funds for fiscal year 2007-08 to support existing industry training through the Incumbent Worker program. "We continue to appropriate money to allow us to offer training to existing Tennessee companies to avoid potential layoffs or relocation," Bredesen said. "We are also placing special emphasis on job development and retention in our more rural areas." Existing businesses and industry are the source of nearly 80 percent of new jobs and capital investment in Tennessee. |
Times-News: "Eastman Says Healthy Employees Improve Company's Bottom Line"Strong balance sheets enhance Eastman Chemical Co.'s economic impact on the region, so the company is examining everything from health care costs to energy sources to keep performance strong, CEO Brian Ferguson told regional leaders Tuesday. Ferguson, who recently forecast Eastman would double earnings per share over the next five years, also offered reassurance that the company's product line is not particularly vulnerable during times of recession. "About 70 percent of what we make is a consumable or is pretty recession resistant," Ferguson said, noting that softness in Eastman's business usually results from oversupply. "People build too much of what we make and we're all competing for the same customers and the prices go down. That's usually a much larger factor for us than the demand side." And because that competition is a constant for Eastman, Ferguson said, the company is exploring the many ways it can gain an edge beyond just product development. |