The Tennessee Rural Opportunity Fund, which provides growth capital to businesses in rural areas, has been honored for its economic development efforts.

The first of its kind, the fund is a $10 million revolving loan. It is a partnership between the state, the Tennessee Bankers Association member banks and Southeast Community Capital Corp.

The statewide initiatitive has won the 2009 Multi-Community Program Award for populations over 100,000, handed out by Bismarck, N.D.-based Business Retention and Expansion International.

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