MEMPHIS – On Wednesday, July 10 and Thursday, July 11, SBA Deputy Administrator Dilawar Syed visited Memphis, Tennessee to meet with local entrepreneurs and highlight the positive impact of historic investments by the Biden-Harris Administration in infrastructure, technology, and manufacturing. Since President Biden took office, more than 18.5 million founders have filed to start a business – including more than 321,000 in Tennessee.
On Wednesday, July 10 Deputy Administrator Syed focused on inner city and minority owned business development, starting with a roundtable hosted by SBIAC where 10 small business owners shared their stories and discussed local development needs from funding resources to business education. At Crosstown Concourse, the SBA team met with the owner of Global Cafe, which received SBA-backed funding to expand their business.
The City of Memphis Entrepreneurs Network Center then hosted a fireside chat with the Deputy Administrator where he heard from about 30 business owners and other key economic development partners. Deputy Administrator Syed shared data on the volume of SBA loans in Tennessee and discussed ways to increase awareness of SBA financial resources within both the small business community and with local lenders.
The fireside chat was followed by a roundtable discussion hosted by the Greater Memphis Chamber of Commerce where the Deputy Administrator met with 20 business leaders representing its Small Business Council and Think Tank. Topics ranged from access to capital to how other federal and State partners can help small businesses participate in supply chains that take advantage of the city’s strong healthcare, logistics, advanced manufacturing, expanding auto manufacturing, and food processing sectors.
On Thursday, July 11, Deputy Administrator Syed met with Memphis Mayor Paul Young to discuss ways to increase coordination of city and federal resources for entrepreneurs and small businesses. SBA has a history of working closely with the SBA-funded Tennessee Small Business Development Center at Southwest Tennessee Community College, with local SCORE mentors, and Operation HOPE, all of whom provide free business coaching, training and mentors.
Later, Deputy Administrator Syed also toured Engineered Medical Systems, a medical device manufacturer and held a roundtable with members of the Greater Memphis Medical Device Council to explore ways that SBA can help this important business cluster continue to expand and create well-paid advanced manufacturing jobs available. He highlighted President Biden’s commitment to businesses that buy, make, and sell their products in America, and brought in the local U.S. Commercial Service representative to discuss federal support for exports by Memphis and Shelby County businesses.
For follow-up interview requests for Deputy Administrator Syed, please contact Teddy Lake at theodora.lake@sba.gov
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About the U.S. Small Business Administration
The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.