Areas Served: Colbert, Cullman, Dekalb, Franklin, Jackson, Lauderdale, Lawrence, Limestone, Madison, Marshall, Morgan and Winston counties
The Tennessee Valley Authority Economic Development Fund was established to stimulate economic development in Colbert, Cullman, Dekalb, Franklin, Jackson, Lauderdale, Lawrence, Limestone, Madison, Marshall, Morgan and Winston counties in Alabama to leverage capital investment in the TVA power service area.
Through leveraging other public and private financial sources, TVA loan funds are used to promote economic expansion and job creation.
The loan funds are primarily available to manufacturing firms and local nonprofit economic development entities.
Loans can be used to fund the construction of new manufacturing facilities, expansion of existing facilities, and development of publicly owned industrial sites or buildings.
TVA is dedicated to ensuring that all businesses have access to the resources they need and supports woman- and minority-owned business development and special opportunities (economically distressed) communities.
Loans are evaluated based on a project’s:
– Financial viability
– Potential to create or retain jobs
– Management performance
– Community economic impact
– Capacity to leverage funds from other sources
– Impact on TVA’s power system, including the local power company
Program guidelines
– The maximum loan amount varies according to the type of project.
– In most instances, TVA funds should be used for the acquisition of fixed assets.
– Real estate, equipment, or letters of credit are acceptable collateral.
– Loans are typically below market rate, with specific rates to be determined on a case-by-case basis after consideration of the loan evaluation criteria.
– Program guidelines require that each TVA loan dollar leverage additional funding from other sources
Contact InformationTennessee Valley Authority
Address: 4960 Corporate Dr, Suite 125F
City: Huntsville
State: Alabama
Website:
http://www.tvaed.com
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