During the most recent Knoxville City Council meeting the council approved the new Revolving Loan Program for the city. The program has been part of the city over the years but has not been utilized as it was primarily for industrial type businesses. Knoxville City Manager Aaron Adams tells KNIA/KRLS News the intent of the program is to make funds available for smaller businesses to use in the finishing of a project. Adams says the program is not intended to finance a whole project but is more of the icing on the cake. The intent of the Revolving Loan Program is to provide supplemental financing in support of new and expanding businesses located within the City of Knoxville. Once the Chamber approves a business loan application for funding, the City will release the funds for the loan. As repayments are received by the City, the funds will be deposited to replenish the program.