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LendTN (part of Fund Tennessee) is sponsored by Tennessee Community Development Financial Institutions (CDFIs) certified by U.S. Treasury. LendTN provides fair access to borrowed funds for small businesses and entrepreneurs in all 95 Tennessee counties. While Elysium Labs is seeking grants, this loan program could be a financing option for growth.
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TNECD Announces Lenders for Fund Tennessee’s LendTN Program TNECD Announces Lenders for Fund Tennessee’s LendTN Program Friday, September 15, 2023 | 10:00am Five lenders to provide equitable access to capital across Tennessee Nearly $47 million allocated through the Fund Tennessee program for small businesses and entrepreneurs NASHVILLE, Tenn.
– The Tennessee Department of Economic and Community Development (TNECD) announced today five new lenders to participate in LendTN, a Fund Tennessee program announced in February 2023. Nearly $47 million has been allocated through the Fund Tennessee program and will provide equitable access to capital for small businesses and entrepreneurs across Tennessee.
“Tennessee’s small businesses are the backbone of our state’s economy, and I am excited that through LendTN we can better support them so that they have the opportunity to grow and expand,” said TNECD Commissioner Stuart C. McWhorter. “Thank you to these five lenders for stepping up to financially support the entrepreneurs and small business owners across our state.
” These lenders will make LendTN dollars accessible statewide, giving small business owners and entrepreneurs, especially those in underserved communities, more tools to start and expand. The lenders participating in LendTN: · Tennessee Rural Development Fund Small business owners and entrepreneurs who are interested in becoming potential borrowers should go to FundTennessee. org to learn more.
Each lender is currently accepting applications and working with interested applicants to expand access to capital. Loan types, amounts of loans and rates will vary from lender to lender depending on borrower needs. In general, loans may include startup funds, working capital or equipment purchases and will range from microloans to loans up to $5 million.
In early 2023, eligible lenders completed an Intent to Participate process with TNECD. The program was open to available non-depository Community Development Finance Institutions (CDFI) and Minority Depository Institutions (MDI) that serve Tennessee. CDFIs are mission-driven financial institutions that provide credit and financial services to underserved markets and populations who have been certified by the U.S. Department of Treasury.
To learn more about CDFIs visit here . To learn more, visit FundTennessee. org or the State Small Business Credit Initiative (SSBCI 2.
0) visit here . About the Tennessee Department of Economic and Community Development Public Information Officer
According to the current listing, eligibility includes: Businesses in all 95 Tennessee counties. Administered by CDFI lenders dedicated to supporting small businesses in under-resourced communities. Confirm the full requirements in the official notice before applying.
The current listing shows not specified; loans up to $250,000 mentioned for SBA Community Advantage Loans (related program). Verify award ceilings, matching requirements, and allowable costs in the official notice.
LendTN (part of Fund Tennessee) is funded by Tennessee Community Development Financial Institutions (CDFIs) certified by U.S. Treasury. Verify program details on the funder's official page before applying.
This opportunity targets applicants in Tennessee. If your organization operates elsewhere, check the official notice for location requirements.
Start from the official opportunity page linked in this listing — it carries the sponsor's submission instructions.
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