Southeast Community Capital Corp. has changed its name to Pathway Lending and passed the $40 million mark to Tennessee businesses. The organization, which was founded in 1999, specializes in making small loans — especially to woman- and minority-owned businesses in lower-income communities — and has worked with more than 350 companies since its launch. It has offices in Nashville, Knoxville, the Tri-Cities and Jackson and is funded by an investor group that includes almost three dozen banks from around the state.
"We’ve changed our name to better reflect what we do as an economic development lender. The company was founded with the knowledge that small businesses in Tennessee needed an alternative source of capital to help them grow," said Clint Gwin, President of Pathway Lending.
Jun 7, 2010 1:42 PM
The Federal Financial Institutions Examination Council has given the Tennessee Rural Opportunity Fund its 2010 National Community Reinvestment Award for its work to fund small businesses in rural Tennessee. The three-year-old fund, which has invested about $9 million in more than 40 business, is a partnership between the state, 23 banks (including seven based in the Nashville/Clarksville area) and Nashville-based Southeast Community Capital Corp. During its 10-year life, it is expected to pump $25 million in loans into more than 300 companies, many of them owned by women and/or minorities.
Apr 5, 2010 2:01 PM