The Appalachian Regional Commission has awarded a $3,000,000 Project Grant to Southeast Community Capital Corporation, a non-profit community development corporation, under the Appalachian Area Development (CFDA 23.002) program. The grant will fund the delivery of small business loans, microloans, training, and technical assistance to support microenterprise development, small business growth, and entrepreneurship in disadvantaged and underserved communities in Tennessee over a 3-year period from July 1, 2023 to June 30, 2026. As a microlender and community development financial institution, Southeast Community Capital will utilize the grant funding to offer microloans under $50,000 to startups and existing small businesses, along with providing training and counseling through SBA programs like the Microloan program, Prime Technical Assistance, and Veterans Outreach. Additional grant funds will enable the organization to provide COVID-19 relief lending, increase access to capital, and deliver capacity building services that equip entrepreneurs and small business owners with the tools needed to strengthen regional economic development in Appalachia.
Generated 4/9/24, 9:46 AM