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Recovery LogoThe American Recovery and Reinvestment Act of 2009

RURAL BUSINESS ENTERPRISE GRANT

"These Recovery Act grants represent the Obama administration's ongoing efforts to ensure strategic investments and increased economic opportunities in rural America," said U.S. Agriculture Secretary Tom Vilsack. "Small businesses play an important role in building strong communities while providing vital products and services to local residents. This funding will help spur economic development to strengthen communities in dozens of states around the country."

ARRA AMOUNTS

U.S. Flag U.S. – Approx. $20 million

Tennessee State Flag Tennessee/ECD – $100,000


IN THIS SECTION
Overview
Tennessee Funds
Key Events
Contact

OVERVIEW

Rural Development’s Rural Business Enterprise Grant (RBEG) program will receive approximately $20 million dollars under the Act to provide funding for a broad variety of programs to support business development in rural areas. RBEG funding may be used for many purposes making it uniquely suited to meet the varying needs of individual areas while helping to speed economic recovery. The RBEG program may fund projects as varied as business revolving loan funds, business district infrastructure projects, capital improvement projects, business incubators, and downtown revitalization projects.

TENNESSEE FUNDS

The state of Tennessee will receive $100,000 from the U.S. Department of Agriculture's Rural Business Enterprise Grant program.  The money will be administered through ECD’s Business Enterprise Resource Office (BERO) and used for the ECD-BERO Rural Micro Loan Fund.  These micro loans of $500-$10,000 are available for entrepreneurs living and operating a business in rural Tennessee.  For more information regarding the ECD-BERO Micro Loan Fund and how to apply, please click here.

KEY EVENTS

March 2, 2010 - The Tennessee General Assembly approved the FY 2009-2010 budget expansion requests allowing the program to now be implemented.
July 28, 2009 – U.S. Department of Agriculture announced Tennessee’s $100,000 Rural Business Enterprise Grant.  Click here to read the press release. 

CONTACT

For more information please contact ECD’s Business Enterprise Resource Office at (615) 741-2626 or toll free at (800) 872-7201.

 

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