Federal grant positions Belmont University as hub for small business export growth across Tennessee
The U.S. Small Business Administration announced that the Tennessee Export Initiative at Belmont University will receive a $100,000 grant to support export growth among small businesses through SBA’s competitive State Trade Expansion Program (STEP). STEP, created by the Small Business Jobs Act of 2010, aims to help small businesses enter and expand into international markets. Through this program, eligible Tennessee small businesses can apply for up to $7,000 in reimbursement for export activities during the project year (through Sept. 2027).
This is the second STEP grant awarded to Belmont University since 2024. Since the program’s launch two years ago, Belmont’s STEP program has already provided grants to 10 Tennessee small businesses, resulting in trade expansion across multiple continents. Reported export sales already exceed $4 million as a result of grant-supported activities, and those numbers are expected to grow, with more results reported.
One grant recipient, Tennessee Craft Spirits (TCS), has already reported impressive results from their first grant. TCS secured and shipped its first multi-brand order into the European Union in 2025, representing the first-ever exports for three of the four Tennessee distilleries represented by TCS. David Pick, TCS’s Owner and CEO commented: “Although international trading conditions have been challenging, they are being overcome by the strong and growing interest in premium, craft whiskeys from Tennessee. As a start-up, we were fortunate to gain support from the STEP grant; it was most timely and has enabled us to gain increasing sales with an ambitious importer who took our products into Germany and Belgium early in 2026.”
International trade represents nearly 57% of the world’s economy — and 95% of the world’s consumers are located outside the United States, presenting an enormous opportunity for U.S. small businesses to grow revenue and boost local economies. In fact, 97% of U.S. businesses that export are classified as small.
STEP financial support helps U.S. small businesses:
- Learn to export
- Participate in foreign trade missions
- Design international marketing products and campaigns
- Support website globalization and e-commerce capabilities
- Pay for subscriptions to services provided by federal agencies
- Obtain trade credit insurance
- Participate in export trade show exhibits and training workshops
Since its creation in 2010 as part of the Small Business Jobs Act, the STEP program has awarded $235.5 million in grants and directly supported over 13,000 small businesses' international expansion and export growth. According to the SBA, every $1 in STEP funding yielded $43 in export sales in 2022 (the most recent data available).
“Building on the success of our first grant, we’ve seen how export assistance can help entrepreneurial Tennessee companies enter global markets and accelerate growth,” said Dr. Jeff Overby, director of the Tennessee Export Initiative and professor of international business & marketing. “This initiative will also engage Belmont faculty and students through internships, case studies, and international trade education, creating valuable connections between the classroom and the global marketplace. We are proud to administer these funds and help Tennessee small businesses compete, grow, and thrive internationally.”
How to Apply
Applications for the program are open. Selection of companies will be first-come, first-served, based on pre-approval of their Tennessee STEP application and export expansion plan. Any Tennessee small business as defined under SBA guidelines is eligible to apply. To access the application and other information on the STEP program, visit the Tennessee Export Initiative website at belmont.edu/step-tn.
About the Tennessee Export Initiative
The Tennessee Export Initiative at Belmont University officially administers STEP Tennessee. The Thomas W. Beasley Center for Free Enterprise in Belmont's Jack C. Massey College of Business supports TEI. The Initiative also works closely with other Engagement Centers and academic departments within the Massey College of Business to prepare students for success in the ever-changing global business marketplace.
If you have questions or need more information, contact Dr. Jeffrey Overby, director of the Tennessee Export Initiative, at TEI@belmont.edu.