MUST READ: Financial Considerations
The Nashville Entrepreneur Center is a 501c3 nonprofit meaning that we raise funds from donors, foundations and government entities to reduce the cost of services we provide to entrepreneurs. The program's cost does not cover the full cost to run the program (staffing, operations, event costs, program supplies, etc.), but we feel this is the right price to charge at this time given that we anticipate being able to raise offsetting grant, foundation, corporate and private funds to make up the difference.
While we know that this rate is significantly below market value, we understand making the payments can be tough or impossible for some entrepreneurs. We want to include entrepreneurs in our programs who may not be able to make the monthly investment in their business right now, and will be offering a small number of scholarships to admitted participants.
All entrepreneurs face financial challenges, especially those who step away from full-time jobs to pursue their startup opportunities. For many, this might be the most cash-strapped they will be in their lives. Given our programs withstanding considerable subsidization, we are able to subsidize the cost of the program for entrepreneurs facing significant hardship. Examples include:
- Illness or medical emergency
- Housing burden above 50% of income (housing burden is the % of monthly income that goes to rent or mortgage costs). To find out more, visit the HUD's information on housing burden: https://www.huduser.gov/portal/pdredge/pdr_edge_featd_article_092214.html
- Involuntary unemployment, layoff or otherwise unanticipated loss of income.
- Sudden death of a family member, resulting in increased expenses
- Incarceration
- Childcare, eldercare or other familial care burden
We will consider financial aid requests from entrepreneurs who do not meet the above extreme financial hardship cases, but we will work to prioritize those with the highest needs.