Fund Spark is a crowdfunding loan program for Tennessee’s Upper Cumberland region. We are very excited to be able to offer this opportunity to you! This option gives you more cash to put into your business at a really low interest rate while engaging people in and building buzz about your business on a global platform.
What is the eligibility for this program?
- The applicant(s) must operate the Tennessee business in a rural area as defined by the USDA.
- The applicant(s) must have fewer than 10 employees, including the owners.
- The applicant(s) must be current on all personal and business debts.
- There is a 2% loan closing fee (rolled into payments).
- The applicant must agree to provide certain information required by the program funders.
What are the crowdfunding specifics?
- Business (existing or startup) is located in a county of the Upper Cumberland: Cannon, Clay, Cumberland, DeKalb, Fentress, Jackson, Macon, Overton, Pickett, Putnam, Smith, Van Buren, Warren, and White
- Work with the TSBDC at Tennessee Tech throughout the process
- Complete a successful Kickstarter© campaign and your raise will count as your investment
-Raise $7,500-$14,999 to qualify for a loan of $2,500
-Raise $15,000 and above to qualify for a loan of $5,000
How do I get started?
To get started with Fund Spark now contact the Tennessee Small Business Development Center at Tennessee Tech at email@example.com or by phone at 931-372-3648; or for more information contact BERO at the following email at firstname.lastname@example.org, by phone at 800-872-7201, or for general information go to the website at www.tn.gov/ecd/bero.