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Knoxville Business News Tennessee Mountain Scenery Background
December 10, 2023 | Tom Ballard

Middle Tennessee State awarded $3.8 million to administer “AssistTN” program

It is the third leg of the "Fund Tennessee" program that also includes "InvestTN" and "LendTN."

Middle Tennessee State University (MTSU), which runs the Tennessee Small Business Development Center (TSBDC) network, has been approved for a $3.8 million technical assistance grant under the federal State Small Business Credit Initiative (SSBCI) program.

Referred to as “AssistTN,” it is the third leg of the “Fund Tennessee” program that also includes “InvestTN,” managed by Launch Tennessee, and “LendTN,” overseen by the Tennessee Department of Economic and Community Development.

The TSBDC was one of 20 state awards made under the federal program that is administered by the U.S. Department of the Treasury. Tennessee joins 12 other states that were awarded technical assistance grants and announced in August. The total funding for the 20 new recipients is $50.8 million. These awards will provide legal, accounting, and financial advisory services to eligible small businesses applying for the SSBCI capital program and other government small business programs.

According to its application, MTSU anticipates that it will improve the closing rate of underserved and very small businesses applying to capital access and venture funding.

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