RFI Response Deadline 5:00PM September 14, 2023
1. STATEMENT OF PURPOSE:
The State of Tennessee, Tennessee Department of Economic and Community Development (TNECD) issues this Request for Information (“RFI”) for the purpose of partnering with firms to provide marketing and outreach services, including, but not limited to digital marketing, marketing services, advertising, social media, public relations, online marketing, branding/brand development, video production, graphic design, website design and development, podcasting, print media, and radio for the State Small Business Credit Initiative 2.0, branded as Fund
Tennessee and its component units which include InvestTN, LendTN, and AssistTN. The initiative is intended to provide capital and technical assistance needed to invest in job-creating opportunities for small businesses and entrepreneurs, including minorities, women, veterans, persons with disabilities, those who live in rural communities or low-to-moderate income census tracts, or those who are underserved or underrepresented. TNECD is seeking firms with diverse networks to ensure programmatic reach across the state. The budget for this marketing and outreach will not exceed $50,000.00. We appreciate your input and participation in this process.
2. BACKGROUND:
The Department of Economic and Community Development is dedicated to promoting opportunities for businesses to grow and succeed in the state of Tennessee. This commitment includes facilitating the education of the community regarding available support for small businesses and entrepreneurs.
The American Rescue Plan Act reauthorized and expanded the State Small Business Credit Initiative (SSBCI), branded as Fund Tennessee, to provide support for small businesses and entrepreneurs in emerging from the pandemic by providing access to the capital needed to invest in job-creating opportunities.
The Fund Tennessee initiative encompasses several programs: LendTN, a debt program with approximately $47 million dollars to allocate; InvestTN, an equity program with approximately $70 million to invest; and AssistTN, a technical assistance program with $3.8 million in grant dollars.
These programs are intended to help entrepreneurs and small businesses, including those in underserved communities, to become capital ready.