Small & Minority Owned Company Loan. Lending when it comes to purchase of real-estate is excluded from appropriate uses of funds.
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What exactly is SMOB?
The Small or Minority-Owned Business Assistance Program provides a platform that is statewide fosters the development and growth of little and minority-owned companies in Tennessee. The Program places focus on the preparatory phase of beginning or expanding a small business by making sure adaquate planning and funding are taken into account.
The SMOB Program provides assist with Qualifying Businesses in two primary areas, Program Services and Loans.
“Program Services” provides usage of a myriad of technical help, training, and services that are consulting Qualifying installment loans Vermont Businesses that will or may well not make application for Loans underneath the system.
“Loan” means that loan for the project that is specific that the applicant has requsted Program Assistance. Listed here are appropriate purposes which is why A loan may be produced:
Lending for the purchase of property is excluded from appropriate uses of funds.
Program Function and Eligibility
The Small and Minority-Owned Business Assistance Program is made because of the Tennessee General Assembly by Chapter 830 regarding the Tennessee Public Acts of 2004. (more…)



