Financing

Project Financing

Examples of some of the programs for which the county is eligible:

Community Development Block Grant (CDBG)


Grants are made for public infrastructure and loans are made for building and equipment. Loans are not made for working capital.

The maximum term and minimum rates are shown below.

Maximum Term on Building	20 years
Maximum Term on Equipment	7 years
Minimum Interest Rate
Years 1-5	Prime -5
Years 6-10	Prime -4
Years 11-20	Prime -3

Tennessee Industrial Infrastructure Program (TIIPS)


This program provides state grant money for the extension of utilities, road work, site preparation, and other infrasture development assistance necessary for a relocation project.

SCTDD Revolving Loan Fund


This program, adminstrated by the Development District, can provide loans to be used in conjunction with other financing sources for businesses that propose to create jobs and increase capital investment in the community. It may be used for financing buildings, machinery and equipment, and working capital.

Tennessee Small Business Energy Program


This program may be used to finance up to $100,00.00 of the costs of energy efficient improvements to existing structures where the improvements can be justified by an energy audit.

Industrial Revenue Bonds


The City of Hohenwald has an Industrial Development Board which has authority to issue industrial Revenue Bonds for qualified projects.

Rural Electrification Administrations (REA)


Provide zero interest loans to provide rural economic development and job creation. The maximum loan amount is $400,000 and the maximum repayment period is ten years.

Job Tax Credit Against Franchise Tax Liability Required Capital Investment $500,000


A job tax credit of two thousand dollars ($2,000) for each net new full time employee job - 25 new jobs.