Contact:
Steven Moore
Address: 101 Market Street PSC 1J
Chattanooga TN. 37402
Phone: (423) 876-4096
Fax: (423) 876-458

Who they serve: With facilities that generate the electricity to serve more that 8.3 million people, TVA is the largest power producer. This unique federal corporation provides affordable, reliable, electricity to consumers in the seven states Tennessee Valley region.

What they do: TVA provides low-cost, reliable power to Tennessee Valley businesses, as well as an abundance of services and financial resources. It’s all part of TVA’s mission to promote the economic health of the Valley and its people.

Minority Business Development Loan Funds:  TVA offers several loan programs to accomplish its economic development goals: The Minority Business Development Loan Fund promotes the growth and expansion of minority and other socially and economically disadvantaged business owners in the Valley.

Minimum/Maximum Loan:  TVA’s minimum and maximum investment would be $50,000 and $500,000 respectively. TVA may purchase by participation agreement up to 50% of the eligible loan project. Generally, a minimum of one job should be created or retained for every $20,000 invested by TVA.

Requirements for Program:  Borrower must meet MBDL eligibility guidelines/SBA requirements. Firms must be at least 51% minority/female owned. Funds may be used for working capital, contract financing, real estate financing, fixed assets, and business acquisitions.

Interest Rates/Length of Program:  Typically, below the prime rate, specific interest rates are determined on a case-by-case basis. The maximum length of term is 10 years for real estate; seven years for machinery and equipment loan; and five years for infrastructure loans.

Loan Volume: 10-15 loans per year

Fee for Program: Borrower is responsible for all filing fees.