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No, the loans provided to small businesses through GNRC’s CARES Act RLF loan program are not forgivable.
Yes, receipt of an SBA Economic Injury Disaster Loan or SBA Paycheck Protection Program loan or any other public assistance does not impact eligibility provided those loans are in good standing and RLF funds are not used for identical expenses or to make payments on or refinance existing loans.
Yes. The COVID-19 Recovery Loan Program is only open to existing for-profit small businesses as defined by the Small Business Administration, and the business must be located within the 13 county GNRC lending area.
No, COVID-19 Recovery Loans are only for existing businesses that had revenue at least for the full year prior to the initial COVID-19 emergency declaration on March 22, 2020. GNRC does offer other loan programs that assist start-up businesses acquire fixed assets such as equipment and commercial real estate. For information on other programs, please visit https://www.gnrc.org/212/Small-Business-Lending
All eligible small businesses in Middle Tennessee are encouraged to apply. The industries and business sectors targeted experienced significant disruptions from COVID-19 related closures and cancellations.
Loans will be collateralized with business assets potentially including real estate. GNRC also requires personal guarantees.
GNRC is offering loans with zero interest for the first 24-months. The monthly payment will increase after two years because it will include both principal and interest.
No, the proceeds may not be used to refinance or make payments on existing debt.
All request for bids/proposals (RFPs) or qualifications (RFQs) will be posted online at http://tn-gnrc.civicplus.com/183/RFQs-and-Contracting.
A Medicare Supplement Insurance (Medigap) policy, sold by private companies, can help pay some of the health care costs that Original Medicare doesn't cover, like copayments, coinsurance, and deductibles.
The Assessment will provide direction for regional cooperation around technology and how it is deployed to support transportation efforts. Through the regional vision for smart mobility, it will define how the transportation system can prepare for and thrive in an environment offering all modes and vehicles that are connected, shared, and even autonomous. As transportation and technology become increasingly connected, the Assessment will help the region understand the future of mobility and prioritize investments accordingly.
The Greater Nashville Regional Council (GNRC) is leading the Assessment through its program, the Nashville Area Metropolitan Planning Organization, a seven-county region comprised of Davidson, Maury, Robertson, Rutherford, Sumner, Wilson, and Williamson counties. It is funded through federal transportation funds programed in the latest Regional Transportation Plan.
In addition to informing the Regional ITS Architecture, the RSMA will benchmark Middle Tennessee against peer regions for utilization of technology in mobility, examine best practice and emerging trends in mobility, set a regional vision for smart mobility, identify strategies to leverage technology deployments into other capital project, and collaborate with the private sector.
With a regional vision in place, improved coordination and planning between jurisdictions will take place, setting up a framework for collaboration and interoperability around hardware, software, and policy standards. The RSMA will also provide a number of performance measures that can be adopted to determine success.
The RSMA began in the fall of 2018 and will continue through the summer of 2019.