Eligible Areas Grainger, Claiborne, Hancock, Hawkins, Union, Jefferson, Greene, Cocke, Campbell and rural areas of Hamblen and Knox counties in Tennessee.
Loan Fund Purpose To stimulate economic development in rural East Tennessee. The loan fund will provide affordable financing to small businesses and entrepreneurs located in rural East TN areas meeting USDA RD definitions.
Eligible Uses of Funds Equipment, real property, contracted materials (with some limitations). General operating funds, inventory and investments are not eligible. Limitations on some agricultural purposes.
Security Loans require acceptable collateral.
Interest Rate Below market, based on credit score, loan amount, security
Loan Limits Up to $45,000
Loan Terms Depends on loan purpose, amount and collateral.
How to Apply for a Loan Submit a completed loan application and Basic Business Plan forconsideration. Loan application can be downloaded from Quick Links at www.clinchpowell.net
Contact For more information, contact Lindy Turner, Clinch-Powell RC&D Council, Inc. 865-828-5927, firstname.lastname@example.org
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