In April 2012 the Downtown Bristol
Redevelopment Loan Program was launched to stimulate redevelopment in downtown
Bristol on both sides of the state line.
Since its inception, 6 loans have
been approved. Statistically, the
average loan is $12,000 for 40 months at a 6.25% interest rate.
Importantly, the 6 loans are
credited with the creation of 17 new jobs and the retention of 9 existing jobs
in downtown - thanks to the vision of the Bank of Tennessee, Citizens Bank, First
Tennessee Bank, Green Bank/Capital Bank, BB&T, Highland Union Bank, and
Wells Fargo.
And more applications are in the pipe line for consideration.
