The Bridge Resource Partnership Fund | Established 2018
The Bridge Resource Partner Fund opened in 2018 with a goal of supporting the development of new resources and increasing the connected networks available to “Main Street” entrepreneurs in Nashville, specifically Black entrepreneurs. “Traditional business banking options are difficult to obtain for communities of color; we hope this fund will help ease that tension just a bit with education and opportunity. The need is overwhelming,” says Amy Fair.
It took some time and patience for the vision that the donors had for this fund to become a reality, but in 2020 things fell into place creating a partnership with The Grove Community Development Corporation (CDC) and Studio Bank.
- The Bridge Resource Partnership Fund is providing the funding in the form of grants to The Grove CDC;
- The Grove CDC has established criteria, an application, and a review process for its new The Grove Guarantee Initiative, a credit enhancement resource (the guarantee) for Black-owned businesses in need of a modest financial investment in order to access a business loan;
- Studio Bank is referring potential businesses to complete and submit an application to The Grove Guarantee Initiative.