Pamela Marshall

TURNING NO INTO YES!

Tuesday March 13, 2012 – Tuesday March 13, 2012

6075 Poplar Avenue

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Description:

Funding For Women-Owned Business
NAWBO Networking Reception Featuring Pamela Marshall
March 13, 2010
5:00pm-7:00pm
The Crescent Club, 6075 Poplar Avenue, #909, Memphis TN
Members:  $10        Non-Members: $15
Late Registration:$18 (Start 3/12)

  

Pamela Marshall
Executive Director, MAAG

 MAAG (Memphis Area Association of Governments) works closely with member governments and nonprofit organizations to identify, craft, and advocate for legislation and public policy that serves to improve the overall quality of life for all residents.  We are the regional resource for federal programs supporting economic development initiatives.  We are your regional advocate for economic and infrastructure concerns and a hub for regional, senior-level government leaders to dialogue and create synergistic relations.

 Revolving Loan Fund Program

Program Overview
The Economic Development Administration (EDA) Revolving Loan Fund Program (RLF) supplies small businesses and entrepreneurs loans with the primary purpose of creating and retaining jobs.  These loans are commonly referred to as Gap Financing because we stand in the gap between the borrower and other lending institutions. The revolving loan fund has grown to become an integral part of the small business loan package. Borrowers benefit from flexible and favorable terms, and financial institutions enjoy lower overall risk in supporting small businesses. The results include new jobs, new businesses, and a healthier local economy.   MAAG is an EDA-approved economic development district organization, and, as such, is an RLF administrator.  

Loans are based upon the borrower’s needs, repayment ability, what the borrowers is financing and confirmation that jobs will be created.  Interest rates are determined by perceived credit risk and are two percentage points below the current prime rate with a floor of four percent.

 MAAG funds different types of loans
The MAAG RFL program is designed to boost local strategies that enable the community to invest in small businesses and entrepreneurial initiatives, encouraging the creation, retention, and expansion of jobs helping grow the local economy. 

MAAG revolving loan funds are eligible for the following:

  •  Business startup
  •  Expansion and conversion costs
  • Working capital

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