Business financing in Shelby County.
County-by-county financing guides. No paperwork. No social. No ID.
20 institutions are headquartered inside the Shelby County line, Memphis included, and 5 more keep a branch here. Below, we say which is which.
Not this lane? Home FinancingPersonal Financing
The doors in Shelby County.
The CDFIs, credit unions, and microlenders that actually say yes — county by county, in two languages. We are not a lender. Nobody paid to be listed. And where a county has no good doors, we say so.
- 25
- DOORS HERE
- 20
- BASED HERE
- 58
- TN COUNTIES WITH DOORS
- Lane
- Business Financing
- People
- 930Kresidents of Shelby County
- Covers
- Memphis
- Elsewhere in TN
- Davidson County →17 doors — the biggest list of any other county in Tennessee
- State
- Tennessee →58 of 95 counties hold a door in this lane
Certified by the U.S. Treasury to lend where a bank will not. Nonprofit, patient, and used to a file that is not clean.
Bank3 · Hope Credit UnionOwned by their members, not by shareholders. They look at your whole story rather than a score, and that is the difference when a bank says no.
American Spirit Credit Union · First South Financial Credit Union- Bank3Personal · Business capital
- First South Financial Credit UnionPersonal · Home · Business capital
- Orion Credit UnionCDFI-certifiedPersonal · Home · Business capital
- River City Capital Investment, LLC.Community lending · Business capital
- Southern Security Credit UnionCDFI-certifiedPersonal · Home · Business capital
- IN THIS LIST
6 of the 25 doors inside the county line are CDFI-certified.
The U.S. Treasury certifies them to lend to the people banks pass over. It is a loan, not a favour.
- Banc3 Holdings, Inc.Community lending
- Bulab Employees Credit UnionPersonal
- F a a Credit UnionPersonal · Home
Show the other 12Show fewer
- Fedex Employees Credit AssociationPersonal · Home
- Fedtrust Credit UnionPersonal · Home
- Healthnet Credit UnionPersonal · Home
- Kennedy Va Employees Credit UnionPersonal
- Kimberly Clark Credit UnionPersonal · Home
- L G & W Credit UnionPersonal · Home
- Memphis City Employees Credit UnionPersonal · Home
- Memphis Municipal Employees Credit UnionMinority depositoryPersonal
- Methodist Healthcare Credit UnionPersonal · Home
- Olivet Baptist Credit UnionMinority depositoryPersonal
- Securcommunity Credit UnionPersonal · Home
- Tva Mid-South Credit UnionPersonal
Based elsewhere, with a member-facing office inside the Shelby County line. You can walk in.
- American Spirit Credit UnionMinority depositoryPersonal · Home · Business capital
- Hope Credit UnionCDFI-certifiedMinority depositoryPersonal · Home · Business capital
- Leaders Credit UnionPersonal · Home · Business capital
- Southeast Financial Credit UnionPersonal · Home · Business capital
- U. T. Credit UnionPersonal · Home · Business capital
- Grameen AmericaAccepts ITIN
Microloans for women entrepreneurs. Requires photo ID and proof of address — no SSN requirement. Branches in major metro areas.
Business capital - Mission Asset FundAccepts ITIN
Zero-interest lending circles and credit building. SSN or ITIN accepted. Works through nonprofit partners across the country.
Personal
How to read this list.
We do not ask for your name, your email, or your number. Nothing on this page changes based on who you are.
A door is headquartered here when its head office sits inside the county line. The rest are based elsewhere and keep a branch you can walk into. We list both, and we label which is which.
Every institution on this page comes from public federal data — the CDFI Fund certified list (Aug 2026), NCUA credit union data (Mar 2026), and the SBA microloan intermediary list (Sep 2026) — plus a short national tier we verified by hand. We refresh each list as its agency publishes. No listing is paid.
This guide helps solo contractors and small business owners in Shelby County, Tennessee understand their financing options clearly and honestly. It highlights local CDFIs, credit unions, and ITIN-friendly lenders that actually serve the Memphis area — not just national programs. Whether you are just starting out or looking to grow, this guide walks you through who qualifies, what documents you need, and which local institutions can help. It also points out common traps so you can protect yourself and your business.
What Is Small Business Financing?
Small business financing is any loan, line of credit, grant, or investment that gives your business the money it needs to start, operate, or grow. For solo contractors and small real-estate investors in Shelby County, this typically means one of three things:
- 01**Term loans**
A lump sum you repay over a set period, used for equipment, renovations, or working capital.
- 02**Lines of credit**
A flexible pool of money you draw from as needed, good for managing cash flow between jobs or rent payments.
- 03**Microloans**
Smaller loans (usually under $50,000) designed specifically for newer or smaller businesses that do not yet qualify for traditional bank products.
- MISSING ONE?Ask Iris which one you're missing.ASK A QUESTION ↓
Forget what the banks say.
Shelby County's economy is anchored by logistics, healthcare, construction, and a growing small-business community concentrated in Memphis neighborhoods like Orange Mound, Whitehaven, Binghampton, and Frayser. Many business owners here are sole proprietors, LLCs with one or two members, or independent contractors in trades like plumbing, electrical, HVAC, and general contracting.
General eligibility factors most local lenders consider:
- Time in business — even six months of consistent revenue can open doors with CDFIs and credit unions.
- Credit score — traditional banks often want 650+, but local CDFIs and ITIN lenders frequently work with scores in the 580–620 range or no credit score at all.
- Business revenue — lenders want to see that money is coming in, even if you are not yet profitable.
- Residency or business location in Shelby County or the greater Memphis metro area.
- Immigration status — several local lenders work with ITIN holders and do not require a Social Security Number.
If you have been denied elsewhere, that does not mean you are out of options. Community lenders in Shelby County are specifically designed to serve people the traditional banking system overlooks.
Get your papers in order.
Every lender has its own checklist, but gathering these items in advance will put you ahead of the process:
For all applicants:
- Government-issued photo ID (driver's license, passport, or consular ID)
- ITIN or Social Security Number (ITIN is accepted by many local lenders)
- Proof of Shelby County address (utility bill, lease, or bank statement)
- Last 2–3 months of personal and business bank statements
- Last 1–2 years of tax returns (personal and/or business, if filed)
For established businesses:
- Profit and loss statement (your accountant or bookkeeper can prepare this)
- Business license issued by Shelby County or the City of Memphis
- Articles of Organization or Incorporation (for LLCs and corporations)
- Any existing business contracts or invoices that show future revenue
For newer businesses or startups:
- A simple business plan — one to two pages describing what you do, who your customers are, and how you will repay the loan
- Personal financial statement
For real-estate investors:
- Property address and purchase contract or appraisal
- Rent rolls or lease agreements, if the property is already occupied
- Scope of work and contractor estimates for any planned renovations
Tip: Keep digital copies of everything in one folder on your phone or computer. It makes the application process much faster.
The doors worth knowing.
These are institutions with a real presence in the Memphis and Shelby County area.
ALL 25 DOORS, BY NAME AND BY TOWN- 25
- DOORS HERE
- 62
- ACROSS TN
Based in Memphis, Tennessee. A community development financial institution, certified by the U.S. Treasury to lend where a bank will not, and used to a file that is not clean.
BEST FORA personal loan, or building a credit file from nothing, and working capital, equipment and payroll for a small business.Based in Memphis, Tennessee. Treasury-certified as a CDFI, which is a mandate rather than a courtesy: reaching borrowers the mainstream market passes over is the job.
BEST FORWorking capital, equipment and payroll for a small business, and community lending where a bank has already said no.Based in Jackson, Mississippi. A credit union: no shareholders to satisfy, and a habit of reading a whole story rather than a single score. It is CDFI-certified, and it is a minority depository.
BEST FORWorking capital, equipment and payroll for a small business, and a personal loan, or building a credit file from nothing.Based in Collierville, Tennessee. A credit union — owned by its members rather than by shareholders, which is exactly what changes the conversation after a bank has said no. It is CDFI-certified.
BEST FORA personal loan, or building a credit file from nothing, and buying, repairing or refinancing a home.
Don't fall into these traps.
Not every lender has your best interests at heart. In Shelby County — and across Tennessee — small business owners are regularly targeted by products that look like help but create debt traps. Here is what to watch for:
Merchant Cash Advances (MCAs):
An MCA is not technically a loan — it is a purchase of your future revenue. Providers take a daily or weekly percentage of your sales until the advance is repaid. Effective annual interest rates on MCAs frequently exceed 100–200%. If a lender leads with "we don't check credit" and wants access to your bank account to pull payments automatically, proceed with extreme caution.
Triple-Digit APR Online Loans:
Many online lenders (advertised heavily through social media) offer fast approvals but charge annual percentage rates (APRs) between 60% and 300%. Tennessee's commercial lending laws offer limited protection here. Always ask for the APR in writing before signing anything.
Confessions of Judgment:
Some lenders — often MCA providers — include a "confession of judgment" clause in contracts, which allows them to seize your business assets without going to court if they claim you defaulted. This is legal in some states and can be devastating. Read every contract carefully and have someone you trust review it.
Upfront Fee Scams:
Legitimate lenders do not charge large fees before you receive your funds. If a lender asks for hundreds or thousands of dollars upfront to "process" or "guarantee" a loan, walk away.
Signs of a trustworthy lender:
They are willing to explain the APR clearly.
They do not pressure you to decide today.
They are registered with Tennessee's Department of Financial Institutions or are a federally chartered bank or credit union.
They provide all terms in writing before you sign.
When in doubt, bring the contract to the Memphis SBDC or a SCORE Memphis mentor for a free second opinion before signing.
Everything below is set by Tennessee, and it reads the same in every county in it. The 25 marks above are this county's own doors — who opens one is decided by them, not by the state.
The rules where you are.
Tennessee has a few rules and programs that directly affect small business borrowers in Shelby County:
Tennessee Small Business Investment Company (SBIC) and State Programs:
The Tennessee Department of Economic and Community Development (TNECD) administers several grant and loan programs for small businesses, including FastTrack and the Rural HELP program. Some are available in Shelby County depending on the nature of the business.
Interest Rate Caps:
Tennessee law caps interest rates on certain consumer loans but has more limited protections on commercial loans. This is one reason why choosing a regulated lender (bank, credit union, or CDFI) matters — see Section 6 for more on this.
Business Licensing:
Tennessee requires most businesses to register with the Tennessee Secretary of State and obtain a state business license if annual gross receipts exceed $3,000. Shelby County and the City of Memphis also require local business licenses for most operations. Having these in order before you apply for a loan strengthens your application significantly.
Contractors:
In Tennessee, contractors performing work over $25,000 must hold a Tennessee Contractor's License issued by the Tennessee Board for Licensing Contractors. Some lenders will ask for proof of licensure before funding a contractor's business loan.
Tax Considerations:
Tennessee has no state income tax on wages (the Hall Tax on investment income was fully repealed in 2021). However, Tennessee does impose a Franchise and Excise Tax on businesses with more than $50,000 in net worth or gross receipts. Talk to a local accountant — the Memphis SBDC can refer you to low-cost tax assistance.
The short version.
- 01
If you are a small business owner or solo contractor in Shelby County, Tennessee, here is the short version:
- 02
Start local. Organizations like the Community Loan Fund of the Mid-South, Pathway Lending, and the Mid-South Minority Business Continuum exist specifically to help people in Memphis and Shelby County access fair financing — including people with limited credit history or an ITIN instead of a Social Security Number.
- 03
Get free help first. Before you apply anywhere, visit the Memphis Small Business Development Center (SBDC) at the University of Memphis or connect with a SCORE Memphis mentor. Both are free, and they can help you prepare a stronger application and avoid bad products.
- 04
Know your numbers. Gather your bank statements, tax returns, and business license before you sit down with any lender. The more organized you are, the faster the process moves.
Same county, another question.
Home FinancingPurchase, renovation, HELOC, and bridge loans for homeowners and investorsSEE IT IN SHELBY COUNTY →
Personal FinancingPersonal loans, credit building, and ITIN-friendly financing optionsSEE IT IN SHELBY COUNTY →58TN COUNTIES WITH DOORSThe whole stateEvery county in Tennessee, in this same lane.62 institutions fund small businesses inside Tennessee county lines.OPEN THE STATE →Still don't see your situation?
Ask Iris. She'll explain it the way it should have been explained the first time.