Mayor Ketron announces loans for small businesses

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Rutherford County Mayor Bill Ketron announces the availability of the CARES Act Revolving Loan Fund (RLF) for qualifying small businesses in Rutherford County.

This loan program, administered by the Greater Nashville Regional Council (GNRC), offers flexible, low-cost financing options to help qualified businesses recover from the impacts of the pandemic. Increasing access to capital will help the county’s small business community by supporting a variety of industries and their employees, and help reduce the burden of uncertainty to help stabilize the local economy.

“Many small businesses in our community have experienced firsthand the harm of the pandemic and its direct and indirect effects on their operations and revenues,” said Mayor and GNRC Board member Ketron. “Many have had to close for an extended period, some have even closed their doors permanently as a result, and some continue to experience staffing and payroll issues. We are grateful that our partners with the GNRC are facilitating these loans for our small businesses. “

Recent changes to the CARES RFL program allow start-ups to apply and eligible business owners to apply for loans up to $ 500,000. The loans are interest free for the first two years. After the 24th month, the GNRC will charge at least four percentage points below the lesser of the monetary center’s current prime interest rate quoted in the Wall Street Journal.

For more information, business owners can contact the mayor’s office at (615) 898-7745 or visit: GNRC.org/RLF.

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