The Mid-South Minority Business
Council was established as a part of the Memphis Area Chamber of Commerce in
1973. In 1988, GOALS for Memphis, a think tank of Memphis executives,
identified four strategic priorities for the future of Memphis. Minority
economic development was one of those priorities. This renewed emphasis on
minority development spurred resurgence in the Memphis Regional Purchasing
Council, and in 1989, it became a self-sufficient free standing organization
with an independent Board of Directors comprised of senior executives or member
Today, the MMBC serves as the Mid-South's foremost minority business development organization and is highly
respected by the corporate community as a trusted source of knowledge and
The rebirth of the MMBC is a
direct initiative of corporate, government and minority business leaders in
response to a need to develop a strong minority and women business community in
an effort to impact economically the entire Mid-South region.
The Mid-South Minority Business
Council, Inc. proactively develop a climate of inclusion where business to
business relationships and developmental programs foster
increased growth and success of minority businesses.
MMBC - The Organization
MMBC is organized to provide more
individual customer service to its members. The Strategic Business Advisors (SBAs) are a key factor in the marketing of MMBC’s value added services.
In addition to the Uniform Certification Agency (UCA) process, which is a best
practice model, the Stragetgic Business Advisors have responsibility for a specific “Book of
Business” consisting of minority and women business enterprise members from
various industries. Each Advisor is very familiar with the member through the
assessment of their businesses and keeps track of the changing global
competitive market and industry trends.
Uniform Certification Agency
The Uniform Certification Agency
(UCA) was formed in 1994 under the auspices of the Mid-South Minority Business
Council. Sponsoring agencies for UCA include Memphis-Shelby County Airport
Authority, Tennessee Valley Authority, Memphis Light, Gas and Water, Memphis
Area Transit Authority, Memphis City Schools, Shelby County Schools and the
City of Memphis. The UCA was formed to reduce the time and paperwork required
for minorities and women to become certified; and to reduce the cost and burden
of certification for participating agencies.
Technical Assistance and Developmental Pool
has initiated a series of value added services to provide business development
tools and techniques to assist our members and take their business to the next
level. These service providers have proven expertise in their focused area,
and have also formed strategic alliances with MMBC to provide these services at
a reduced and/or shared cost to our members. MMBC will continually assess new
service offerings and providers to ensure that we are providing our members the
best, leading edge services and competitive opportunities for development and
Center for Emerging
Entrepreneurial Development (C.E.E.D.)
The Center for Emerging
Entrepreneurial Development (C.E.E.D.) is a business incubator which opened in
March 2007 to address the lack of minority businesses in certain industry
The MMBC, in conjunction with the corporate members of our
organization and the Memphis Tomorrow Foundation plan, identified numerous
industry segments where there was little or no representation in the form of
minority or women owned businesses.
The C.E.E.D. is a corporate adoption program that
allows each business owner to learn the ins and outs of their chosen industry by
providing contract opportunities for their respective adoptee company.
The corporate adopters also provide feedback and
instruction to allow the business owners to hone their skills and receive larger
contract awards as they continue to improve their performance.
The overall objective of the C.E.E.D. is to graduate
each business owner from the incubator to their own storefront, fully capable of
competing on price and performance with the major companies within their
The incubator is a three year program that has
measurable goals for each company to achieve as well as the overall success of
MMBC Working Capital Loan Fund
The Mid-South Minority
Business Council (MMBC) has recognized the growth needs of minority-owned
businesses and, to this end, has developed programs to assist these firms with
growing their businesses.
Consequently, the MMBC Working Capital Loan Fund was
started for the purpose of
providing access to working capital funds for women and minority owned business
enterprises (M/WBE) in construction related industries.
capital loan fund will be captive to MMBC members with working capital needs, to
fund contracts from MMBC corporate members.
The initial maximum loan amount will be $50,000.
Our principal mission is to grow the revenues of
minority and women owned businesses by increasing the volume that member
corporations spend with minority suppliers.
By accomplishing this goal we will stimulate capital
investment, encourage job creation, and create wealth to advance the economic
well-being of the growing minority business sector.
under the working capital loan fund is limited to:
- Ethnic/racial minority business enterprises (or those
under a protected group as recognized by the Federal Government), who have
been certified by MMBC’s Uniform Certification Agency (UCA), and who have a
contract with one of MMBC’s corporate members
- Borrowers having at least 51% ownership in the business
- Owners having a strong management team with proven
experience in the business
at a minimum must include the following borrower information:
- A history of the business
- Purpose for the loan and a source of repayment
- Financial statements for the most current 3 years
- Schedule of term debt
- Aging of accounts receivables and payables
- Signed personal and corporate income tax returns for the
most current 3 years
- Personal guaranty of the borrower
Terms and conditions of the loans with respect to repayment will depend on the type of loan, use of
the proceeds, and the ability of the business to repay.
Therefore, the term of any given loan may not exceed
twelve (12) months; however, the loans may be renewed, subject to approval.
MMBC Loan Services
The MMBC Loan Services is designed to be
a one-stop shop to satisfy borrower needs that are not covered under the working
capital loan fund program.
In these situations MMBC will act as the application
intake source and loan originator; then refer the loans to our lending partners
who will provide the funding.
Other types of loans and products that are available
- Real estate loans
- Equipment loans
- Permanent working capital loans
- Business Protection Services
Key man insurance
Business interruption insurance
Unlike the MMBC working capital loan fund, which is designed
to benefit our member companies who have a contract with one of our general contractor corporate
members, the MMBC Loan Services will be available to all M/WBEs that
qualify—both members and non-members.
For further information please contact:
Dino Hull, Loan Manager
(901) 525-6512, Ext. 614