TNECD & LaunchTN announce new equity program for small businesses and entrepreneurs

CHATTANOOGA, Tenn. (WDEF) — The Tennessee Department of Economic and Community Development and Launch Tennessee held a kickoff for a new economic initiative.

The InvestTN fund will administer $70 million in equity investments to small businesses and entrepreneurs.

Today marked the beginning of their nine-day tour around Tennessee to announce the good news.

CEO of LaunchTN, Lindsey Cox is excited to start helping small businesses gain success and capital. “We’re thrilled to be able to offer capital in all 95 counties. We certainly want to spread that around as much as possible and get entrepreneurs access to the support they need. Equitable access to capital is something I’ve always been passionate about.”

InvestTN is part of a broader initiative called FundTN which also includes opportunities for debt lending and technical assistance.

To apply or learn more, you can visit fundtennessee.org.