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Editorial


Front Page - Friday, August 28, 2020

BrightBridge recognized as top nonprofit lender




The Tennessee District of the U.S. Small Business Administration has recognized Chattanooga-based BrightBridge Capital as its fiscal year 2019 top dollar and loan volume provider for the Community Advantage and 504 loan programs.

The awards, which were delayed due to the COVID-19 pandemic, were announced during the LendersConnect Conference held virtually this month.

As a Certified Development Company, BrightBridge partners with commercial lenders to offer SBA’s 504 loan throughout Tennessee and in select counties in adjacent states. Recent projects include a new manufacturing facility in West Tennessee and a grocery store in Middle Tennessee.

BrightBridge provides SBA’s Community Advantage loans to small businesses, including startups, which cannot obtain conventional financing.

“We can make such loans up to $250,000, and usually do not require as much collateral as other small business loans,” says Mike Ohlman, president and CEO of the nonprofit economic development agency.

BrightBridge provides SBA lending to small businesses throughout Tennessee, and offers programs in North Alabama, North Georgia and Western North Carolina.

Source: BrightBridge Capital