To provide long-term loans to small businesses for the purpose of conversion, or expansion, including the acquisition of land, building and leasehold improvements. Areawide development corporation also provides all services for the loan portfolio. Small business finance is a most important function in assiting in the creation of private sector jobs. Areawide development corporations primary function and goal is private sector job creation.

Economic Development

Provide information about sba loan package to potential borrowers, providing assistance throughout the loan application process for the sba 504 loan program in this region, servicing the sba loans after they are funded areawide development corporation has submitted over 390 sba 503/504 applications to the loan review committee. Of the applications sent to sba over 305 have been approved, 32 applications have been declined, and 67 authorizations have been cancelled. To date, 237 loans have been funded. Total debenture amount of funded loans exceeds 92 million and has created over 4,700 jobs. administer, service, and provide technical assistance to potential borrowers for the usda irp loan program for 16 counties in east tennessee. Areawide development corporation has funded 40 rural development intermediary relending program loans representing 538 jobs and over 9,320,000 in total financing including equity injection.