SBA

  • Small Business Loan Application

    Rural Small Business Loan Fund

  • Thank you for your interest in working with Clinch-Powell to help you apply for program funding to facilitate growth in your small business and the local economy! Clinch-Powell partners with USDA Rural Development on a Rural Small Business Loan Fund to stimulate economic development in rural East Tennessee. The maximum loan amount is $45,000 and interest will be below market rates, based on credit score, loan amount, and collateral. The loan terms will depend on the loan purpose, amount and collateral.

    *WHAT YOU WILL NEED TO PROVIDE US:

    • Completed & Signed Form (Must be signed by all business owners)
    • Completed financial statement for each business owner *A template is available if needed.
    • Copy of your last 2 Years full Business Tax returns
    • Year to Date Business Profit & Loss Statement
    • Copy of your Business License
    • Proof of Business Insurance(s) (if applicable)
    • Business Plan (With as much historical financial data as possible and a marketing plan with 5 year projections) *A template is available if needed.
    • Marketing Materials (Brochures, Website, Business Cards, Photos of products, etc.)
    • Photocopies of Driver’s License & Social Security Card (Applicants, Business Owners and/or Co-Applicants)
    • A Written Narrative of what you believe you can accomplish in your business with the proceeds of this loan. (EX: More employees, faster production, more environmentally conscious, higher net income, etc.)
    • Written summary of how you plan to use the loan proceeds. Include the following information at a minimum:
      • Equipment – Make/Model, Description, Serial number if known, explanation of usage, etc.
      • Real Property – Address, Description, Value, etc.
      • Contracted Materials – Contract price, material price, usage, etc
    • Payment for the Tri-Merge Credit Pull.
      • $30.00 Per Person / Business Owner
      • You may pay via money order mailed to PO Box 379; Rutledge, TN 37861.
      • You may also call and pay over the phone or pay using Pay Pal at the end of this form (these options add electronic processing fee).

    Please send the needed documents to us as soon as possible so we may begin processing your application.

    Mail to PO Box 379; Rutledge, TN 37861

    Email to Laura@clinchpowell.net . 

    Fax to 865-828-5212

  • Part I: Business Information

  • Is the company registered to do business in the state of Tennessee?*
  • Legal Structure of Business*
  •  -
  •  -

  • Part II: Borrower Application

    Each person with 20% or more ownership of the business must complete this section.
  • Date of Birth*
     - -
  • Do you own more than 20% of any other business?*
  •  -
  • US Citizenship*
  • Do you have an up to date asset and liabilities statement?*
  • Have you been financed before?*
  • Do you need to add a Co-Applicant?*
  • Date of Birth
     - -
  • Do you own more than 20% of any other business?
  •  -
  • Co-Applicant US Citizenship
  • Co-Applicant Sources of Income

  • Do you have an up to date asset and liabilities statement?
  • Have you been financed before?

  • Part III: Loan Information

  • Part IV: Monitoring Information

  • Are you in default on a federal student loan or on any type of government loan?*
  • Do you owe back payments for child support in any state?*
  • Have you ever been convicted of a felony?*
  • Are you, any of your company's officers, major shareholders or partners, or the spouses or close relatives of such individuals employed by Clinch-Powell RC&D or USDA Rural Development?*
  • Will any of the loan funds be used for construction, breaking ground, constructing a building, etc?*
  • Do you have health insurance?
  • Are you physically disabled?
  • Are you a veteran of the United States Armed Forces?

  • USDA Non-Discrimination Statement

    In accordance with Federal law and the U.S. Department of Agriculture (USDA) civil rights regulations and policies, this institution is prohibited from discriminating on the basis of race, color, national origin (including English proficiency), limited religion, sex, disability, age, marital status, family/parental status, income derived from a public assistance program, political beliefs, reprisal or retaliation for prior civil rights activity in any program or activity conducted or funded by USDA. (Not all prohibited bases apply to all programs)

    Program information may be made available in languages other than English. Persons with disabilities who require alternative means of communication for program information (e.g., braille, large print, audiotape, American Sign Language) should contact the responsible State or local Agency that administers the program or contact USDA through the Telecommunications Relay Service at 711 (voice and TTY).

    To file a program discrimination complaint, a complainant should complete a Form AD-3027, USDA Program Discrimination Complaint Form, which can be obtained online at
    https://www.usda.gov/sites/default/files/documents/ad-3027.pdf, from any USDA office, by calling (866) 632-9992, or by writing a letter addressed to USDA. The letter must contain the complainant’s name, address, telephone number, and a written description of the alleged discriminatory action in sufficient detail to inform the Office of the Assistant Secretary for Civil Rights (OASCR) about the nature and date of an alleged civil rights violation.

    The completed AD-3027 form or letter must be submitted to USDA by:

    Mail:
    U.S. Department of Agriculture
    Office of the Assistant Secretary for Civil Rights
    1400 Independence Avenue, SW
    Washington, D.C. 20250-9410; or

    Email:
    program.intake@usda.gov

    This institution is an equal opportunity provider.

    "This is an Equal Opportunity Program. Discrimination is prohibited by Federal Law."

  • Part V: Electronic Signature and Submission

    Please read Clinch-Powell's policies below. By signing, or selecting "Yes" you agree that you have read and fully understand our policies and agree to the terms of our policies.
  • By checking the box YES below, I hereby certify to the best of my knowledge that: -1- I am eligible to participate in the Clinch-Powell Rural Small Business Loan Program and sign below as Principal and Guarantor, -2- I intend to establish or expand a small business enterprise in a rural area of Tennessee, -3- My business has fewer than 10 employees including the owners, -4- I have established that I have financial need, am financially sound and capable of repaying the monies I borrow under this loan program, -5- I have completed a business plan and small business training from a Tennessee Small Business Development Center or other approved training provider, and- I agree to have my application reviewed by representative(s) from participating lenders including bank and USDA, -6- I authorize Clinch-Powell to utilize credit bureau/reporting agencies and/or its own agents for purposes of verifying the accuracy of any information provided by borrower and for purposes of assessing and monitoring borrower credit status, -7- If the loan is awarded, all proceeds will be used strictly for business purposes, -8- If the loan is awarded, the company concurs understanding of the USDA and State of Tennessee’s Comptroller office’s opportunity to audit program spending, -9- As a recipient of federal funds, I agree that my business will comply with Title VI regulations, -10- This application may only be modified as approved in writing by the loan manager. No other representative of Clinch-Powell or other agency is authorized to make any verbal or written modification to this application, -11- All the information provided herein is true and accurate. I hereby certify to the best of my knowledge that the above statements are true.*
  • Authorization to Release and Verify Information: As a participant in the Clinch-Powell Rural Business Loan Program, I/we authorize Clinch-Powell to use my Social Security number for the purpose of obtaining my credit report for the purpose of evaluating my credit history.  I/We also authorize the release of my credit report to Clinch-Powell by those credit reporting agencies from which Clinch-Powell may request my credit report. I/We understand that the information on my credit report will be used by Clinch-Powell, its affiliates, lenders, USDA Rural Development, only for the purpose of determining my qualification for a business loan and my eligibility for assistance. This information will not be disclosed to any other third parties without my consent. I/We agree to the above Authorization to Release and Verify Information Policy.*

  • Disclosure and Conflict of Interest

    Clinch-Powell RC&D Council is a non-profit Community Housing Development Organization and a HUD-approved counseling agency (82394) that, among other activities, helps families with affordable housing goals. Most services are available in alternative formats and locations upon request.

    Clinch-Powell receives funding for its housing programs through grants and loans from a number of sources, including but not limited to: USDA Rural Development, US Dept. of Housing & Urban Development [HUD], Corporation for National and Community Service, Federal Home Loan Bank, the Environmental Protection Agency, Tennessee Housing Development Agency, Fahe/ Just Choice Lending, Citizens Bank & Trust Co. of Grainger County, BB&T Bank, SunTrust Bank, public fundraising, and private donations. 

    As a housing counseling agency, Clinch-Powell offers the following services: 1) Pre-Purchase Homebuyer Education Workshops--utilizing the Realizing the American Dream curriculum; 2) Pre-Purchase Counseling--financial readiness to purchase/own an affordable home; 3) Post-Purchase Counseling and Workshops--non-delinquency home improvement, energy efficiency; 4) Foreclosure Prevention/ Loss Mitigation Counseling—assisting to resolve mortgage defaults; 5) Rental Counseling--locating safe/decent rental housing; 6) Household Budgeting & Credit Repair Counseling and Workshops--financial literacy and personal money management; 7) High-Cost Mortgage Counseling--requirement of certain mortgage loans to ensure borrower’s understanding of the risk of the loan. Clinch-Powell, along with Clinch-Powell Construction Company develops affordable single-family homes to sell to low- to moderate- income families.  In addition to coordinating the packaging and servicing of select loan products, Clinch-Powell itself occasionally offers low-interest loans and grants for various affordable housing activities. Clinch-Powell NMLS #195063; S. Karge NMLS#2403630 Please visit http://mortgage.nationwidelicensingsystem.org/ to find more information regarding history and profile as a mortgage lender. Lastly, Clinch-Powell is a property manager for a multi-family low-income apartment building, as well as, multiple single-family rental housing units which it also owns.

    In providing counseling services, Clinch-Powell housing counselors will present to their clients several options in the furtherance of their housing goal/service, possibly including recommendations of some of the above listed services. The Clinch-Powell housing counselor will recommend only services that are in the best interest of the client and will inform the client of any interests the organization has in any particular product or service. Within the agency, individual housing counselors may perform multiple affordable housing activities within the scope of their regular job duties, and as such, will not receive any additional funds or incentives specifically for those activities. Moreover, as per HUD guidelines, housing counselors will not simultaneously participate in specific housing activities. 

    As the client, you have the right to inquire as to specific relationships Clinch-Powell or its employees have with other entities. You also have the right to choose (or not) the products or services that you feel are right for your household, regardless of any option presented or recommendation made by the housing counselor. YOU ARE UNDER NO OBLIGATION TO UTILIZE/RECEIVE, OR EVEN CONTINUE WITH SERVICES THROUGH YOUR HOUSING COUNSELOR OR CLINCH-POWELL AS A WHOLE. Your decision to utilize or not utilize certain programs and products will not in any way affect your housing counseling service. If you decide to discontinue services with Clinch-Powell, or if your need is beyond the scope of the agency’s capabilities, Clinch-Powell staff will assist you locating a more suitable local agency.

    If you/your housing situation meet certain criteria, we may collect personal information directly from you and enter into a computer system call HMIS (Homeless Management Information System). Many agencies that provide assistance use this computer system to gather information about clients that are homeless or at risk of homelessness. We only collect information that we consider to be appropriate. You are not required to provide this information. However, without your information we may not be able to fully assist your needs. All information provided to the HMIS system is safeguarded and held under tightest security.  

  • I/We have read and fully understand the above Disclosure and Conflict of Interest Policy.*

  • Privacy Policy Notice

    We may collect non-public personal information about you from the following sources: A) Information that you provide to us orally, written, or digitally such as on applications or other forms; B) Information about your transaction with us or others; and C) Information from others, such as credit bureaus, real estate appraisers, lenders and employers. We do not disclose any non-public personal information about you without your consent to anyone, except: ·information provided to your lender as required to gain approval for a loan or protect your current home, ·to government agencies and grantors in compliance with their respective monitoring and reporting requirements, ·in broader forms to partnering agencies for reporting purposes, joint applications, and/or compilation of statistical data, ·as required by law. To maintain security of customer information, we restrict access to your personal and account information to persons who need to know that information in order to provide you products and services requested with this application.  We may disclose certain limited information to relevant third parties as part of a particular service as further described in the specific program authorization.  We maintain physical, electronic and procedural safeguards that comply with federal standards to guard your non-public personal information. As a client, you have the right to opt-out and direct us to withhold non-public personal information from third parties, or to specify/limit to whom such information is provided. If you choose to opt-out, we will not be able to answer questions from third parties.  To opt-out, you will need to make special note of this on this page, written separately, or explicitly stated to your counselor; not signing this page is not sufficient to opt-out.  If at any time, you wish to change your decision with regard to your opt-out, you may call us at 865-828-5927 and do so. If you decide to discontinue services through Clinch-Powell, we will still adhere to the policies and practices as described in this notice.  The agency will continue to safely maintain your records for a period of time, of at least three (3) years, after which all digital files will be purged and paper documents will be shredded and destroyed.

  • I/We have read and fully understand the above Privacy Policy.*
  • By selecting the submit button I/we acknowledge, just as if I/we had signed a written contract, that all of the information stated in this application, to the best of my/our knowledge is true and accurate.*
  • Have you uploaded any documents with this form?*
  • How will you send us any missing documents?

  • Small Business Loan Credit Pull Payment - Select Number of Business Owners/Applicants PLEASE READ: If you proceed to the Pay Pal portal but do NOT complete the payment, your form will not be submitted. If you would like to pay a different way, select "Pay via Phone or Other".*

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