This past December the Knoxville City Council approved revisions to the city’s Revolving Loan Program. The program had been part of the city over the years but had not been utilized as it was primarily for industrial type businesses. The city’s new program, in cooperation with the Knoxville Chamber of Commerce allows the city to expand and maintain its economic base by assisting new and expanding businesses. The intent of the program is to make funds available for smaller businesses to use in the finishing of smaller projects and is not intended to finance a whole project. Applications for assistance under the program must be submitted to the Knoxville Chamber of Commerce Director. The Director will review the application for completeness and accuracy, either returning the application to the applicant with any deficiencies noted, or forwarding the proposal to the Revolving Loan Fund Committee (RLFC). Applications are accepted December 15th, March 15th, June 15th, and September 15th. The Knoxville Chamber of Commerce Director will review applications and allow for corrections the 15th through the 30th of each acceptance month. The RLFC will review applications starting January 1st, April 1st, July 1st, and October 1st. Final decisions will be announced by February 1st, May 1st, August 1st, and November 1st. Once the Chamber approves a business loan application for funding, the City will release the funds for the loan. As repayments are received by the City, the funds will be deposited to replenish the program. For more information click here: https://knoxvilleiachamber.com/RevolvingLoanFund