Montgomery County Receives Rural Business BoostPosted: Updated:
Montgomery County has received a $99,000 grant through the United States Department of Agriculture's Rural Business Enterprise Grant program. The initiative is designed to aid small and emerging businesses in rural areas.
September 4, 2013
Indianapolis, Ind. -- The United States Department of Agriculture Rural Development is improving the lives of the residents of Montgomery County by presenting a $99,000 USDA Rural Development Rural Business Enterprise Grant program (RBEG). The Rural Development funds will be used to establish Montgomery County Economic Development, Inc.'s first Revolving Loan Fund to assist small and emerging businesses in Montgomery County.
Philip Lehmkuhler, USDA Rural Development Indiana State Director said, "The funding represents the ongoing efforts to create economic and job opportunities in rural areas by ensuring that strategic investments are made in our small towns and cities. Rural businesses drive community revitalization by providing products and services to local residents as well as throughout the country and world. Projects like these spur important economic development and strengthen communities across Indiana."
The RBEG program helps to finance and facilitate the development of new and existing businesses in rural America. Funds can be used for start-up and working capital loans, building and plant renovations, transportation improvements, project planning and other business needs.
More information about this program is available at http://www.rurdev.usda.gov/BCP_rbeg.html.
Funding is contingent upon the recipient meeting the conditions of the grant agreement.
USDA, through its Rural Development mission area, has an active portfolio of more than $189 billion in loans and loan guarantees. These programs are designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America. Further information on rural programs is available at a local USDA Rural Development office or by visiting USDA’s web site at http://www.rurdev.usda.gov.
President Obama's plan for rural America has brought about historic investment and resulted in stronger rural communities. Under the President’s leadership, these investments in housing, community facilities, businesses and infrastructure have empowered rural America to continue leading the way – strengthening America’s economy, small towns and rural communities. USDA’s investments in rural communities support the rural way of life that stands as the backbone of our American values. President Obama and Agriculture Secretary Vilsack are committed to a smarter use of Federal resources to foster sustainable economic prosperity and ensure the government is a strong partner for businesses, entrepreneurs and working families in rural communities.
USDA, through its Rural Development mission area, has a portfolio of programs designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America.
USDA has made a concerted effort to deliver results for the American people, even as USDA implements sequestration – the across-the-board budget reductions mandated under terms of the Budget Control Act. USDA has already undertaken historic efforts since 2009 to save more than $828 million in taxpayer funds through targeted, common-sense budget reductions. These reductions have put USDA in a better position to carry out its mission, while implementing sequester budget reductions in a fair manner that causes as little disruption as possible.
USDA is an equal opportunity provider and employer. To file a complaint of discrimination, write: USDA, Office of the Assistant Secretary for Civil Rights, Office of Adjudication, 1400 Independence Ave., SW, Washington, DC 20250-9410 or call (866) 632-9992 (Toll-free Customer Service), (800) 877-8339 (Local or Federal relay), (866) 377-8642 (Relay voice users).
Source: United States Department of Agriculture