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City of Tullahoma Helping Businesses

18 of Tullahoma’s small businesses have taken advantage of the city’s small business loan program that has paid $238,000 since its launch in late 2008. According to Tullahoma’s finance director, these are low variable rate interest loans, currently at one percent APR.
The city partnered with the United States Department of Agriculture (USDA) for the loan program that currently has $100,000 available to lend to eligible small businesses. Up to $15,000 can be loaned to small businesses for start-up fees, expansions and improvements. Tullahoma Mayor Lane Curlee, the program has been a success.