A new public-private partnership has launched the Tennessee Rural Opportunity Fund to benefit rural economic development.
The joint fund was created through a partnership by the state of Tennessee, the Tennessee Bankers Association and Southeast Capital Management, a nonprofit community development financial Institution.
The fund will provide loans and technical assistance to small, disadvantaged and early-state businesses in rural Tennessee.
Gov. Phil Bredesen announced the fund during his keynote address at the Governor's Conference on Economic and Community Development Thursday.
"The Rural Opportunity Fund is truly an innovative partnership," Bredesen says in a release. "I'm excited about the opportunities that will arise from this new source of capital for small and independent business growth here in Tennessee."
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