This EDA investment supports the greater nashville regional council with establishing a revolving loan fund (RLF) to serve small businesses in thirteen counties throughout northern middle tennessee

Ended Project Grant Awarded

Award ID
047907868
Recipient
Awarding agency
Obligated
$2,684,252

Award facts

Assistance listing
11.307 Economic Adjustment Assistance
Completion date
Funding
  • $2,147,401.00 Federal
  • $536,851.00 Non-federal
Place of performance
Nashville, TN 37228, USA

Award details come from USAspending.gov.

About this award

Written by GovTribe AI ·

This U.S. Department of Commerce Economic Development Administration (EDA) Project Grant award of $2,684,252 supports the Greater Nashville Regional Council in establishing a Revolving Loan Fund (RLF) to serve small businesses across 13 counties in northern Middle Tennessee. The RLF will provide financing to small businesses facing barriers to obtaining traditional SBA and bank loans, enabling them to grow, create new jobs, and strengthen the regional economy. The EDA's Economic Adjustment Assistance (CFDA 11.307) program is funding this initiative, which is designed to help regions address adverse economic changes and impacts. Once established, the RLF is expected to spur private investment and bolster job creation in the region.

Description

As the agency reported it.

The RLF will support businesses facing obstacles to obtaining traditional SBA and bank financing to help them grow and create new jobs and economic opportunities. Once established, the RLF will spur private investment, bolster job creation, and strengthen the regional economy.

Quick answers

Who received award 047907868?

047907868 was awarded to Greater Nashville Regional Council by Economic Development Administration (Department of Commerce) on July 11, 2023.

How much is award 047907868 worth?

$2,684,252 has been obligated on 047907868: $2,147,401 in federal funding and $536,851 in non-federal funding.

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