Small Business Resource Guide Tennessee
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TENNESSEE 2019-2020 Small Business resource guide How to Grow Your BUSINESS in Tennessee 1 2 CONTENTS Tennessee Edition 2019-2020 Local Business Funding Assistance Programs 8 National Success Story 28 National Success Story Jerado and Joyce Reynolds Jennifer and Jeff Herbert’s know their local landscape for meadery has expanded into a entrepreneurship support. multimillion dollar enterprise thanks to SBA assistance. 11 Your Advocates 31 SBA Lenders 12 Local SBA Resource Partners 49 Need Financing? 14 How to Start a Business 50 Go Global with International Trade 18 10 Tips to Help You Build and Grow Your Brand 52 R&D Opportunities for High Growth Startups 20 10 Steps to Start Your Business 54 National Success Story Cheeseburger Baby owner 21 Opportunities for Veterans Stephanie Vitori persevered through a financial storm and a 22 Entrepreneurial natural disaster. Opportunities 58 Surety Bonds 24 Write Your Business Plan 26 Local Success Story When Larry Schmittou decided to Contracting expand with affordable business financing, he turned to the SBA. 60 National Success Story Jennifer Rahn steers the course for Admiral Engineering, succeeding as a small business subcontractor. 63 Government Contracting 64 SBA Certification Programs 65 Woman-Owned Small Business certification ON THE COVER Larry Schmittou, photo courtesy of L&S Family Entertainment 3 4 5 PUBLISHED BY New South Media, Inc. 304.413.0104 | newsouthmedia.com PUBLISHER Nikki Bowman, [email protected] ASSOCIATE EDITORS Pam Kasey, [email protected] Jess Walker, [email protected] DESIGNER Hayley Richard, [email protected] OPERATIONS MANAGER Holly Leleux-Thubron, [email protected] ADVERTISING SALES DIRECTOR Heather Mills, [email protected] ADVERTISING SALES Meggan Hoyman, Kelley McGinnis, Bryson Taylor [email protected] Copyright: New South Media, Inc. Reproduction in part or whole is strictly prohib- ited without the express written permission of the publisher. © 2019 NEW SOUTH MEDIA, INC., ALL RIGHTS RESERVED The U.S. Small Business Administration’s Office of Marketing & Customer Service directs the publication of the Small Business Resource Guide under SBA Contract #SBAHQ- 17-C-0018. SBA publication summer 2019 national edition #mcs-0089. WRITER/EDITOR Becky Bosshart (202) 205-6677 [email protected] DIRECTOR OF MARKETING Paula Panissidi Tavares [email protected] The SBA’s participation in this publication is not an endorsement of the views, opinions, products or services of the contractor or any advertiser or other participant appearing here. All SBA programs and services are extended to the public on a nondis- criminatory basis. Directory listings do not constitute or imply an endorsement by the SBA of any opinions, products, or services of any private individual or entity. Printed in the United States of America. While every reasonable effort has been made to ensure that the information con- tained here is accurate as of the date of publication, the information is subject to change without notice. The contractor that publishes this guide, the federal govern- ment, or agents thereof shall not be held liable for any damages arising from the use of or reliance on the information contained in this publication. 6 SBA Tennessee District Office 2 International Plaza Drive, suite 500 Nashville, TN 37217 (615) 736-5881 Fax (615) 736-7232 sba.gov/tn @SBA_Tennessee District Director District Director Letter LaTanya Channel elcome to the 2019-2020 edition of the U.S. Small Business Administration’s (615) 736-5881 Tennessee District Office Small Business Resource Guide. The SBA helps make [email protected] the American dream of small business ownership a reality. We are the only Wfederal agency dedicated to helping our 30 million small businesses start, grow, expand, Deputy District Director or recover after a disaster. The SBA Tennessee District Office works with an extensive Christopher McKeehan network of business advisers and lenders to help Tennessee’s 590,000 small businesses (615) 736-2499 at every stage of development. Across Tennessee in the last year, we empowered the [email protected] state’s small businesses to: Senior Area Manager • Find an ally, advocate or mentor via the 22 local locations of our SBA Resource Eric Terrell Partners, which includes SCORE, Small Business Development Centers, (901) 494-6906 Women’s Business Centers, and the Veterans Business Outreach Center, all [email protected] powered by the SBA. • Gain more than $40 billion in federal contracting awards. Business Opportunity Specialist • Access over $313 million in SBA-guaranteed loans using 101 banks, credit unions, Kena Dixon community-based lenders, and microlenders. The 550 businesses that qualified for (615) 736-7426 SBA financing have hired thousands of new employees, bought needed equipment, [email protected] and built or renovated facilities. Stay up to date on SBA events near you and get valuable Tennessee business Lender Relations Specialists information by following us on Twitter at @SBA_Tennessee. Register for email updates A. Maria Lloyd at sba.gov/updates. Use this Small (615) 736-7427 Business Resource Guide to power [email protected] your dream of starting, growing, or Lisa Denson expanding your small business here (615) 736-2991 in Tennessee. [email protected] Sincerely, Economic Development Specialist Jacqueline Merritt LaTanya Channel (615) 736-7465 Tennessee District Director [email protected] Administrative Officer David Walley (615) 736-7766 [email protected] District Support Assistant James M. Jenkins (615) 736-5091 [email protected] 7 LOCAL BUSINESS ASSISTANCE How We Did It Made toJoyce and Jerado Last Reynolds used SBA support to succeed. Written by Micaela Morrissette COURTESY OF SHANA SURECK PHOTOGRAPHY SURECK SHANA OF COURTESY 8 LOCAL BUSINESS ASSISTANCE eynolds Welding & Fabrication has grown steadily, building a loyal customer base, since Tips for Jerado Reynolds founded the company in 2005. Success R“At first the company was just Jerado,” recalls his wife and co-owner, Joyce 5 Find a great business mentor. Reynolds. “Then it was him and me part To find your local SBA office and time.” During the day she worked as a resource partners in your area, visit nurse and spent her evenings doing all sba.gov/localresources. the company’s paperwork. The Reynolds sank everything they earned into the business—money, time, and energy. She Have a healthy view remembers with pride helping Jerado of competition. weld a stair railing at a local school. Her COURTESY OF SHANA SURECK PHOTOGRAPHY SURECK SHANA OF COURTESY We’re not always competing. son later attended that same school, We’re a competitor, but if a similar and she watched her child and others SBA Resource Partner, where “from day business has extra work, they’ll send using the rail, benefiting from the one it was, Eureka! Everyone wanted it to us and vice versa. That’s the hard work the couple did together. It to see us win.” Women entrepreneurs relationship to have. was then Joyce decided as much as she receive essential business counseling and loved her day job, she wanted to devote training from this national network of herself full time to the family business community-based centers. Most helpful Record everything you do. in Windsor, Connecticut. She wanted was the detailed personal attention Navigating business relationships to work side-by-side with her husband, available through free one-on-one in this age means keeping an email fully focused on administration and record of everything you do. Leave a business counseling. Joyce also learned business growth. As they both hoped, clear paper trail. about workshops offered by providers like word of mouth spread; clients made the Metropolitan District, a Connecticut referrals. Joyce was soon overwhelmed nonprofit municipal corporation offering with paperwork. They brought on two water and sewer services. At a meet- Sacrifice to ensure quality. employees—doubling up in the busy We don’t cut corners. Sometimes you and-greet, Joyce understood how much seasons. They were able to maintain four have to lose money to do quality work— the SBA could help her business. An full-time employees by 2009. After this, it’s rough, but nothing is more important. SBA professional walked Joyce through Joyce says, they saw that “things were the extensive paperwork and, crucially, not moving.” She wanted to scale up. helped her register the company in Seek SBA assistance to Challenge the System for Award Management The company wasn’t growing in part (sam.gov), positioning the company for see if you qualify for because it wasn’t certified with the new federal contracts. business certifications. state department of transportation or “Resources like the Entrepreneurial We used to look for jobs. Now that prequalified with the Connecticut State Center and the SBA will train you from we’re on the SBA Subcontracting Department of Administrative Services, bottom to top,” Joyce says. “They have Network database, SubNet, and sam.gov, we have a continuous flow Joyce says. She decided to tackle the finance classes that open your eyes of contractors reaching out to us. certification problem full time, leaving regarding taxes. You'll learn how to her nursing career. This was the change register your business. They’ll help she'd been wanting to make, but since with a contract or your website or on two bridges—a lifelong dream. Joyce her background was in health care, accountability statements. Everything!” continues to move forward, getting Joyce didn’t feel fluent in the languages Before the SBA, Reynolds Welding Reynolds qualified for the SBA 8(a) of construction or business. Joyce attempted the DOT certification on five Business Development Program, which wanted to learn, and she had incentive: separate occasions, always falling short provides free business development they needed the certifications to bid because the process was so complicated. education to small businesses so they on bigger jobs.