Contact:
Steven Moore
101 Market Street PSC 1J
Chattanooga TN. 37402
Phone: (423) 876-4096
Fax: 423-876-458

Who they serve: With facilities that generate the electricity to serve more that 8.3 million people, TVA is the largest power producer. This unique federal corporation provides affordable, reliable, electricity to consumers in the seven states Tennessee Valley region.

What they do: TVA provides low-cost, reliable power to Tennessee Valley businesses, as well as an abundance of services and financial resources. It’s all part of TVA’s mission to promote the economic health of the Valley and its people.

Economic Development Loan Funds:  TVA offers several loan programs to accomplish its economic development goals: The Economic Development Loan Fund is a multimillion-dollar revolving loan program for new and expanding industrial companies to purchase fixed assets such as buildings, machinery, and equipment.

Minimum/Maximum Loan:  The maximum loan amount varies according to the type of project, but no EDLF loan can exceed $2 million. TVA will loan up to 25% of the total project investment. Generally, a minimum of one job should be created or retained for every $5,000 invested by TVA.

Requirements for Program:  EDLF loans are made only for fixed assets, such as plant expansions and the construction of new industrial facilities, or development of speculative buildings and industrial parks. The funds cannot be used for working capital.

Interest Rates/Length of Program:  Typically, below the prime rate, specific interest rates are determined on a case-by-case basis. The maximum length of term is 10 years for real estate; seven years for machinery and equipment loan; and five years for infrastructure loans.

Loan Volume: 15-20 loans per year

Fee for Program: Borrower is responsible for all filing fees.