Business - Cooperative Programs
Business and Industry Guaranteed Loans Quick Reference Guide
Contact persons for State Office and Area Offices
Map of Tennessee Area Offices
Dan Beasley
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"The success of any long range community development plan must include jobs", said Business Program Directory Dan Beasley. "For this reason, the Business-Cooperative Programs provides an array of programs and services which focus on the creation of jobs and cooperatives in rural areas. The Business-Cooperative Programs in |
BUSINESS & INDUSTRIAL LOAN GUARANTEES
This program guarantees loans which are designed to promote economic growth. Qualifying businesses are eligible for loan note guarantees which better assist the business in obtaining vital credit through a local lender.
INTERMEDIARY RELENDING PROGRAM (IRP)
This program provides loans to local lending authorities which in turn provide loans to local businesses.
RURAL BUSINESS
These grants provide resources which are utilized to develop small and emerging business enterprises, such as industrial parks. Qualifying entities include public bodies, nonprofit corporations and federally recognized tribal groups.
COOPERATIVE DEVELOPMENT PROGRAMS BUSINESS - COOPERATIVE DEVELOPMENT PROGRAMS PROGRAM OBJECTIVE APPLICANT USES POPULATION LOAN/ TERMS/ Business and Industry Loan Guarantees Create jobs and stimulate rural economies by providing financial backing for rural businesses Business applies through Federal or State Chartered banks, credit unions, savings & loan associations Most legal business purposes except production agriculture. Acquisition, start-up and expansion of businesses that create rural employment All areas except cities of more than 50,000 and their immediately adjacent urban or urbanizing areas Loan guarantee Lender and borrower negotiate terms. Interest rate tied to published rate that may change no more often than quarterly. Rural Business Finance and facilitate the development of small and emerging private business enterprises Public bodies; nonprofit corporations Buy and develop land, construct buildings, plants, equipment, access streets and roads, parking areas, utility and service extensions, rural distance learning networks. Recipients make loans to third parties. All areas except cities of more than 50,000 and their immediately adjacent urban or urbanizing areas Grant When grant funds are used for revolving loan fund (RLF), the intermediary makes loans to businesses from its RLF on terms consistent with security offered Rural Business Provide technical assistance, business development and planning in rural communities with exceptional need. Public bodies; nonprofit corporations Identify and analyze business opportunity; identify, train, and provide technical assistance; establish business support centers; conduct economics development planning; and conduct leadership development training All areas except cities of more than 10,000 inhabitants Grant N/A Intermediary Relending Program Loans Finance business facilities and community development projects in rural areas Public bodies, private nonprofit corporations, Indian groups and cooperatives apply to RD Area Office Community development projects, establishment or expansion of businesses, creation or saving rural jobs. Rural areas and places with populations of less than 25,000 Direct loan The intermediary makes loans to businesses from its revolving loan fund on terms consistent with security offered. Rural Economic Development Loans and Grants Finance economic development and job creation in rural areas. Electric and Telephone Cooperatives. Apply to RD Area Office Business startup or expansion projects that create rural jobs Rural areas and places with populations of 2,500 or less Direct Plan The intermediary, electric or telephone cooperatives, make loans or grants to profit or non-profit business and public bodies for rural economic development and/or job creation Help producer-owned business ventures add value to products Eligible applicants are independent producers, farmer and rancher cooperatives, agricultural producer groups, and majority- controlled producer-based business ventures Value added: No limitations Grant Not applicable Renewal Energy & Energy Efficiency- Click Here for more information Purchase of Renewable Energy Systems Energy efficiency improvements products. Small Business, Agricultural producers, and Cooperatives25% matching grant can be made for purchase/installation of equipment, construction, energy audits, fees, business plans, retrofitting Rural Areas less than 50,000 population Grant Not applicable Direct Loans and Grants - Apply to Rural Development Loan Guarantees - Apply to Intermediary (approved banks, credit unions, etc.) Return to top of the page Contact: Dan Beasley, Program Director USDA Food Safety and Inspection Service (FSIS)
The Business Program now has the responsibility for providing technical and financial assistance to developing existing cooperatives in rural
RURAL ECONOMIC DEVELOPMENT LOAN AND GRANTS
This program is utilized to finance rural economic development and rural job creation projects that are based on sound economic and financial analyses. Loans and grants are made to Rural Utilities electric and telephone borrowers who use the funds to provide financing for business and community development projects.
GRANT
CONDITIONS
apply to RD Area Office
apply to RD Area Offices
1. change in product physical state
2. enhancing product value
3. product segregation
4. working capital
5. feasibilities studies
USDA Rural Development
Tennessee State Office
Mary (Ruth) Tackett, State Director
3322 West End Ave., Suite 300
Nashville, TN 37203-1071
(615) 783-1300
(615) 783-1301 (FAX)
(615) 783-1394 (FAX) RUS/RBS
(615) 783-1398 (FAX) RHS
Chattanooga Area Office
309A North Market Street
PO Box 4941
Chattanooga, TN 37405
(423) 756-2239 Ext. 2
(423) 756-9278 (FAX)
Lawrenceburg Area Office
237 Waterloo Street
P.O Box 1046
Lawrenceburg, TN 38464
(931) 762-6913 Ext. 4
(931) 762-4193 (FAX)
Greeneville Area Office
214 N. College St., Suite 300
Greeneville, TN 37733-0307
(423) 638-4771 Ext. 4
(423) 639-0956 (FAX)
Cookeville Area Office
Joe Woody , Area Director
Fountain Court
390 South Lowe Ave., Suite K
Cookeville, TN 38503
(931) 528-6539 Ext. 2
(931) 528-1976 (FAX)
Jackson Area Office
West Town Commons
85G Stonebrook Place
Jackson, TN 38305
(731) 668-2091 Ext. 2
(731) 668-6911 (FAX)
Knoxville Area Office
Jerry Amonett, Area Director
4730 New Harvest Lane, Suite 3
Knoxville, TN 37918
(865) 523-3338 Ext. 4
(865) 525-7622 (FAX)
Nashville Area Office
Christopher Westbrook, Area Director
3322 West End Ave., Suite 302
Nashville, TN 37203-6835
(615) 783-1359
(615) 783-1340 (FAX)
Covington Area Office
2043 Highway 51 South
PO Box 648
Covington, TN 38019
(901)475-3350 Ext. 4
(901) 475-3356 (FAX)
Union City Area Office
1216 Stad Avenue, Suite 3
PO Box 567
Union City, TN 38281
(731) 885-6480 Ext. 4
(731) 885-5487 (FAX)
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