Other Loans

Revolving Loan Fund Program (RLF)

MADC administers the RLF Program, which is funded by the Economic Development Administration (EDA) and Tennessee’s State Growth Fund, to provide funding in partnership with Banks for businesses at below market rates. The program is designed to improve economic growth through job creation. Areas in the Greater Nashville Region which are eligible for RLF Funds include: Dickson, Houston, Humphreys, Montgomery, Stewart, and Trousdale counties, plus special impact areas in Metro Nashville/Davidson County.

Intermediary Relending Program (IRP)

MADC administers the IRP Program, which is funded by the Rural Development Administration, to provide funding for businesses at below market rates. The program is designed to improve economic growth through job creation. Areas in the Greater Nashville Region which are eligible for IRP Funds include cities with populations of less than 25,000 or unincorporated areas of a county. (A special impact area of Nashville-Davidson County is eligible.)

Advantages of RLF/IRP Participation:

• Low Owner Equity
• Below Market Fixed Interest Rates

Project Size:

• The Revolving Loan Program (RLF) maximum loan amount is $150,000.
• The Intermediary Relending Program (IRP) maximum loan amount is $250,000.

Maturity Terms:

• Machinery and Equipment -- Up to 7 Years
• Real Estate -- Up to 10 Years