Scott Among Six E.T. Counties To Benefit From Grant

September 29, 2005

OAK RIDGE — USDA Rural Development Area Director Jerry Amonett announced Tuesday a $750,000 grant that will benefit Scott and five other East Tennessee counties.

The grant was awarded to the Southeast Community Capital and is to be used for a relending program for its servicing area, Amonett announced at a ceremony held at the Technology 2020 Center here.

The grant funds will be used by the corporation to provide small business capital and create jobs within Anderson, Campbell, Claiborne, Morgan, Scott and Union counties. The project was funded by Rural Development’s Intermediary Relending Program, which provides assistance to public bodies or not-for-profit entities to capitalize locally-run revolving loan programs for small businesses unable to qualify for bank financing. Loans are made to serve unincorporated areas with a population less than 25,000.

“Rural business entrepreneurs are the backbone of America’s rural economy,” Amonett said. “These funds will make investments capital available to small businesses which cannot obtain financing from conventional sources.”

For more information on Tennessee Rural Development programs, visit rurdev.usda.gov/tn.

newsroom@ihoneida.com

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