Areas Served: City of Tullahoma
The Small Business Revolving Loan Program is an economic development tool administered by the City of Tullahoma.
The program can provide loans for small businesses in the City of Tullahoma, Tennessee.
Funds for this project were provided by a grant from the United States Department of Agriculture Rural Development.
Loan Amounts Maximum loan amount is $15,000. Terms Equipment loan terms are up to five years and must be secured with adequate collateral.
Working capital loans must also be adequately secured and maximum loan term two years.
Interest Rate 4 percent below the daily prime rate released by the Federal Reserve and published online at www.
federalreserve.
gov, simple interest, re-adjusting annually, with a floor of 1%.
Eligible Businesses and Activities The program is designed to serve both new and existing small businesses that meet USDA requirements (fewer than 50 employees and less than $1M gross revenue).
The funds may be used in conjunction with other financing sources.
Contact InformationCity of Tullahoma, Tennessee
Address: 201 West Grundy St.
City: Tullahoma
State: Tennessee
Website:
http://www.tullahomatn.gov/economic-development
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