FOR IMMEDIATE RELEASE

Media Contact: Bret Bilbrey

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901.427.3759

Memphis, Tennessee, (December 5, 2024) — BLDG Memphis (Build. Live. Develop. Grow.), a community development association focused on creating self-sufficient neighborhoods by supporting its members, advocating for equitable policies, and promoting civic engagement throughout the Memphis region, is launching the Memphis Small Business Ecosystem Building Project.

Partnering with Truist Bank and the Coalition for Nonprofit Housing and Economic Development (CNHED) in Washington, D.C., BLDG Memphis will serve as the community quarterback that collaborates across small business support organizations and entities to enhance funding, support services, resources and information for small businesses in Memphis.

“We are thrilled to partner with CNHED and Truist Bank to bring their proven small business ecosystem model to Memphis,” Said Deveney Perry, Executive Director of BLDG Memphis. “This collaboration aligns perfectly with BLDG Memphis’ mission to foster economic growth and community development. Building on the success of our Community Navigator Pilot Program (CNPP), we are excited to continue our work supporting local entrepreneurs and strengthening small businesses in Memphis.”

As a part of this ecosystem, BLDG Memphis will actively collaborate with community stakeholders and partners to identify areas for improvement within the small business ecosystem that would work to support small businesses in Memphis, specifically those that are minority-owned or in under-resourced neighborhoods.

The ecosystem will include an aligned database of small business grants and loans, a collaborative network of technical assistance programs that specifically addresses business activity in neighborhoods, continued support of neighborhood-based small business development programming and activating commercial corridors through MEMFix, a BLDG Memphis creative placemaking and tactical urbanism program that led to the revitalization of Memphis areas such as the Broad Ave. Arts District and Crosstown Concourse.

The Memphis Small Business Ecosystem Building Project comes as BLDG Memphis supported more than 1,150 small businesses across seven Memphis neighborhoods during the CNPP Program. BLDG Memphis provided more than $250,000 in technical assistance to small businesses and more than $140,000 in incubation and retail pop-up shops across the neighborhoods.

About BLDG Memphis

Founded in 1999, BLDG Memphis is a coalition of organizations and individuals who support the equitable redevelopment of healthy, vibrant, attractive and economically sustainable neighborhoods throughout Memphis. Formerly called Community Development Council of Greater Memphis, BLDG Memphis works with community development corporations, individuals, associations, public agencies, and nonprofits to promote community-driven development centered on racial, economic, and social equity. It facilitates member engagement, represents them in policy discussions, and collaborates on community improvement projects. It aims to lead in the community development sector and drive systemic change to uplift Memphis neighborhoods. For more information, visit www.bldgmemphis.org.