Small Business loans available for Tullahoma businesses
For those with a small business in Tullahoma, the Tullahoma Finance Department will help existing and new small businesses apply for up to $15,000 in USDA loan funds.
These loans can be used for start-up, expansion and for improvements such as new windows, awnings, painting or HVAC.
These are low variable rate interest loans, currently at 1 percent APR.
To be eligible, a business must be located in Tullahoma, have less than 50 employees and have annual revenues under $1 million.
Interest rates are set at 4 percent below prime, adjusting annually, with up to five years for repayment terms. Loans are generally secured by equipment or real property. Loan payments are returned to the program for relending to other eligible businesses.
Contact Tullahoma City Finance Department for more information and for eligibility requirements. Download an application from the City website at http://tinyurl.com/buc93ox.