At Southeast Tennessee Development, we are dedicated to fostering the growth and success of small businesses in our region. We understand that access to funding is crucial for new and expanding businesses. That's why we offer loan programs designed to provide the financial support you need to thrive.
EDA Revolving Loan Fund
Our US Economic Development Administration (EDA) Revolving Loan Fund (RLF) is tailored to assist small businesses in accessing the capital necessary for growth. This program provides flexible, low-interest loans that can be used for a wide range of business needs, including purchasing equipment, expanding facilities, and creating jobs. Our goal is to support projects that will have a significant positive impact on the local economy.
Rural Small Business Loan Fund
For businesses located in rural areas, this program offers an excellent opportunity to secure the funding needed for development. This program focuses on stimulating economic activity in rural communities by providing loans for business start-ups, expansions, and job creation.
HUD 108 Loan Program
The U.S. Department of Housing & Urban Development makes funding available to the City of Chattanooga for economic development purposes. The City of Chattanooga uses these funds for loans for small businesses. Small Business Loan Program provides businesses located in designated low-income census tracts or owned by members of a targeted population, which includes low-income persons and eligible minorities, with loans that can be used for most business purposes, including working capital, fixed assets, and others. Typical interest rates vary. Maximum amount available is $225,000.
At Southeast Tennessee Development, we are committed to helping small businesses navigate the complexities of securing funding. Our experienced team is here to guide you through the application process, ensuring you have the resources and support needed to succeed. Whether you are just starting out or looking to expand, our funding programs are designed to help you achieve your business goals and contribute to the prosperity of our region.