Small Business Lending

The Mid-Cumberland Area Development Corporation (MADC) was established by the GNRC in 1983 as a non-profit corporation to serve the capital needs of small businesses in Middle Tennessee. GNRC staffs the program as part of its economic and community development programs.

MADC promotes the establishment and growth of small businesses in Middle Tennessee through a variety of federal and local lending programs. Since inception, MADC in partnership with local lenders has brought over $100 million to small businesses in Middle Tennessee and facilitated the creation of over 5000 jobs in the thirteen-county region we serve.

LOAN PROGRAMS

SBA 504 Loan Program

MADC is designated by the Small Business Administration (SBA) as a Certified Development Company to package, close, and service SBA 504 Loans. The SBA 504 loan program provides small business with financing for the purchase of long-term fixed assets such as land, building, and equipment. We partner with private lenders, such as a bank, to provide 10 or 20-year financing with as little as 10 percent down. The SBA financing is fixed typically at below market interest rates.

The SBA 504 maximum loan amount is $5 million. For a small manufacturer or a loan that meets SBA’s “public policy goal”, each project’s gross debenture can be up to $5.5 million.

Revolving Loan Fund Program (RLF)

MADC administers the RLF Program, which is funded by the Economic Development Administration (EDA), to provide funding in partnership with banks for businesses at below market rates. The program’s mission is to provide economic growth through job creation. Areas in the Greater Nashville Region which are eligible for RLF Funds include the 13 Middle Tennessee Counties we serve. The Revolving Loan Program maximum loan amount is $200,000.

Intermediary Relending Program (IRP)

MADC administers the IRP Program, which is funded by the Rural Development Administration, to provide funding for businesses at below market rates. The program is designed to improve economic growth through job creation. Areas in the Greater Nashville Region which are eligible for IRP Funds include cities with populations of less than 25,000 or unincorporated areas in the 13 Middle Tennessee counties we serve.

The Intermediary Relending Program (IRP) maximum loan amount is $250,000.