Get Down Memphis

Downtown Business Continuity Forgivable Loan

The Downtown Business Continuity - Forgivable Loan Program (Program) was designed to assist eligible businesses  in serious jeopardy of permanent closure due solely to the recent COVID-19 pandemic and associated economic impacts. 

The Program provided direct financial assistance to existing, locally-owned, eligible businesses, with a preference for ground-floor businesses operating continuously within the Central Business Improvement District (CBID map). See application for full details and requirements. Forgivable loan amounts up to $20,000.

Loan funding is currently depleted. 

Program Updates:

  • 46 Forgivable Loans approved - $260,000 total 
  • 87% for businesses in Downtown core and South Main
  • 63% of businesses awarded loans were WMBE businesses
  • 70% of businesses were Food & Beverage category