The Tennessee District of the U.S. Small Business Administration (SBA) has recognized Chattanooga-based BrightBridge as the top dollar and loan volume provider for the Community Advantage and 504 loan programs during its previous fiscal year.
As the only Tennessee-based provider of SBA’s Community Advantage loan program, BrightBridge provides loans to small businesses, including startups, which cannot obtain conventional financing.
Mike Ohlman, BrightBridge president and CEO said the not-for-profit economic development agency can make such loans up to $250,000 and usually do not require as much collateral as other small business loans.
The award for top lender of the 504 loan program is the ninth consecutive year that BrightBridge has won honors in this category. The 504 allows BrightBridge to participate with commercial lenders on larger projects involving real estate, construction and heavy machinery. Recent projects include an upscale hotel, brewery and franchise restaurant.
BrightBridge provides SBA lending to small businesses throughout Tennessee, and offers some of its programs in North Alabama, North Georgia, and Western North Carolina.
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BrightBridge is a private, non-profit corporation dedicated to economic development. We work in partnership with local, state and federal governments, community banks and private lenders to provide affordable financing for businesses.