Federal Programs
U.S. Small Business Administration Micro Loan Demonstration Program
The SBA Micro Loan Program provides loan funds for re-lending to non-profits intermediaries, which then make small loans (less than $35,000) to small business owners. This program assists small businesses with borrowing needs typically below those of companies that can access credit from traditional financial institutions. This program places emphases on economically distressed areas and individuals who are capable of successfully operating businesses based on their experience.
USDA Intermediary Re-lending Program
The United States Department of Agriculture, Rural Development Program provides loans to non-profit intermediary re-lenders like SCC for making loans to companies and individuals. This program assists companies located in rural and impoverished areas of six counties in East Tennessee. The counties are Anderson, Campbell, Claiborne, Morgan, Scott, and Union. The companies that receive these loans must promise to hire at least 30% of their workforce from individuals who are members of families whose incomes are at or below the poverty line.
