USDA is sending out more than one billion dollars to rural America to assist communities and create jobs.
The funding is being distributed through several aspects. One is the Business and Industry Loan Guarantee Program, which keeps interest rates low. Another is the Value-Added Producer Grant Program to help farmers create or market products, and the Rural Innovation Grant Program, which focuses on creating new businesses.
“We are operating in all areas that could impact and affect rural economic opportunity, whether it’s helping businesses with low interest loans, providing grants for small businesses, working with nonprofits, looking at ways in which we can work with utilities to create capital and create access to capital that will enable small businesses to take hold. And so it’s a good day for rural Americans and a good day for the rural economy.”
Some of the projects include an Oklahoma beef processing plant that is increasing capacity, a Pennsylvania farm market looking to expand, and a Nebraska loan program to provide technical assistance to rural entrepreneurs.
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