The Small Business Administration (SBA) has instituted a new policy that allows the SBA 504 loan program to be used to improve the cash flow of a small business by restructuring its existing debt – provide the company is expanding and purchasing building or equipment. An article on The New York Times website, “From the S.B.A., Another Small Step“, gives an overview. For a fact sheet from the Small Business Administration, click here.
For more information on how Hickman County business can utilize the SBA 504 program to improve sustainable economic development, feel free to contact me or check out www.business.hickmantn.org .
About Daryl Phillips, CEcD
I am a professional economic developer. I presently work for communities and companies in developing and implementing workforce and economic development solutions as CEO of Phillips Economic Development Solutions (Phi EDS).
Prior to September 2017, I was the economic development professional who served a community team of elected officials, business people, community leaders and dedicated stakeholders for economic development in Cheatham County, Tennessee (pop. 39,880) and its four towns. During my five-year tenure, I served the team as Cheatham County grew over 1,700 jobs, turned around population declines at the start of this decade into healthy population growth, increased tourism expenditures 20.3% and local tax revenue from tourism 25.4%, grew sales tax revenue 36%, focused on developing the local workforce and was recognized by SmartAsset as having the 9th highest Incoming Investment Index of all the 95 counties in Tennessee.
I am a member of International Economic Development Council, Southern Economic Development Council, Tennessee Economic Development Council and International Council of Shopping Centers.
I have earned the designation of Certified Economic Developer (CEcD) from International Economic Development Council (IEDC), the Economic Development Finance Professional (EDFP) certification from National Development Council and hold a Master of Business Administration from Tennessee Technological University.
