BACKGROUND:

The Nashville Minority Business Development Loan Fund (NMBDLF) is a loan program of the Nashville Minority Business Center, which was created from a progressive partnership of the City of Nashville, Metropolitan Development and Housing Agency, Regions Bank, Sun Trust Bank, Bank of Nashville and Vanderbilt University.

PURPOSE:

The purpose of the fund is to facilitate economic development, particulary in targeted Metropolitan Nashville Census Tracts by making credit available to small businesses located within those areas.

AMOUNT:

Generally loans range from $25,000 to $75,000.
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FEES:

A $250.00 non-refundable loan application fee must be paid when the loan application is evaluated.  Closing cost will be determined based on loan requirements. These costs are the responsiblity of the borrower.

RATES:

Generally rates will range from 1.25% to 4.25% over prime.

USE OF PROCEEDS:

Loan proceeds may be used for working capital, inventory, supplies, furniture, fixtures, machinery or equipment.  Generally, the use of loan proceeds for any legitimate business purpose is permitted.

TERM:

The maximum term is five years.

APPLICATION REQUIREMENTS:

A variety of information is required at the time of application.  If all information is not available at the time of loan application, you will have one month to complete your loan package.  The information required is listed on the application checklist.

QUESTIONS:

Please contact Mrs. Lethia Mann at 615-255-0434 or email This email address is being protected from spambots. You need JavaScript enabled to view it.  to answer your questions.

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Main Application

Start here by filling out The One Fund application.

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Tax Form

Fill out the following tax information:

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Release Form

Fill out the following release form:

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Digital Forms Instructions

Need help filling out the forms?  Start here!

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