Areas Served: Statewide Tennessee
Rural Small Business and Entrepreneurship Loan Fund helps small businesses, specifically micro-businesses or micro-enterprises grow and maintain their businesses.
What is a micro-enterprise? Good question! It is a business with five (5) or fewer employees including the owners.
We have made these loans to these entrepreneurs and small businesses throughout rural Tennessee.
We provide an alternative source of capital to small business owners who can’t get conventional bank loans and don’t want to use credit cards.
We look at more than just your credit score; and we provide one-on-one technical assistance.
Rural Small Business and Entrepreneurship Loan Fund lends on your merit, not just on your credit.
While each business is unique, our typical clients are small businesses with more than one year in business; generate enough business income to support their expenses; have good or mixed credit; and don’t qualify for a conventional bank loan.
We lend to home-based businesses such as landscapers and bed and breakfasts; retail-based services such as salons, computer repair and artists; services such as web design and equine therapy; retail stores such as main street shops and markets; and light manufacturing.
Part-time businesses may also apply.
Loans are available from $500 – $10,000.
Contact InformationTennessee Department of Economic & Community Development
Address: 312 Rosa L. Parks Avenue
City: Nashville
State: Tennessee
Website:
http://www.tn.gov/ecd/bero/loan.html
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