Areas Served: Stewart, Montgomery, Robertson, Sumner, Houston, Cheatham, Davidson, Wilson, Trousdale, Humphreys, Rutherford and Williamson counties
MADC was established in 1983 as a non-profit corporation to serve the capital needs of small businesses in Middle Tennessee.
MADC partners with lenders to provide low interest, long-term business loans.
Revolving Loan Fund Program (RLF) MADC administers the RLF Program, which is funded by the Economic Development Administration (EDA) and Tennessee’s State Growth Fund, to provide funding in partnership with Banks for businesses at below market rates.
The program is designed to improve economic growth through job creation.
Areas in the Greater Nashville Region which include Stewart, Montgomery, Robertson, Sumner, Houston, Cheatham, Davidson, Wilson, Trousdale, Humphreys, Rutherford and Williamson counties are eigible for RLF Funds.
Intermediary Relending Program (IRP) MADC administers the IRP Program, which is funded by the Rural Development Administration, to provide funding for businesses at below market rates.
The program is designed to improve economic growth through job creation.
Areas in the Greater Nashville Region which are eligible for IRP Funds include cities with populations of less than 25,000 or unincorporated areas in our service area.
Advantages of RLF/IRP Participation: Low Owner Equity Below Market Fixed Interest Rates Project Size: The Revolving Loan Program (RLF) maximum loan amount is $200,000. The Intermediary Relending Program (IRP) maximum loan amount is $250,000. Maturity Terms: Machinery and Equipment — Up to 7 Years Real Estate — Up to 10 Years
Contact InformationMid-Cumberland Area Development Corporation
Address: 501 Union Street, 6th Floor
City: Nashville
State: Tennessee
Website:
http://www.madc.us/otherloans.html
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