FOR IMMEDIATE RELEASE
Becker: Application deadlines
for federal loans, grants nearing
$33 million available for rural development
(STATEHOUSE) – Sen. Vaneta Becker (R-Evansville) encourages local business owners to submit applications for loans and grants provided by the United States Department of Agriculture (USDA).
“There are four federal loan and grant programs with over $33 million available to help support businesses and small minority producers from rural areas across Indiana,” Becker said. “Although our communities are prospering, there is always room for economic growth.”
Becker said these programs can improve the local economy and sustain Indiana’s overall economy by helping businesses in rural areas create job opportunities, retain employment, provide training, promote business development and supply technical assistance.
According to Becker, currently the USDA is accepting applications for the following grant and loan programs:
- Rural Economic DevelopmentLoansofferzero-interest loans to rural development utility program borrowers. Borrowersthen redistribute the funds with zero-interest to local groups and entitiespromoting economic development and job creation in their communities. Deadlinefor third quarter applications is March 31, 2008. Deadline for fourth quarterapplications is June 30, 2008.
- Rural Business OpportunityGrantsprovidefunding for training and provides assistance for business development.Application deadline is March 31, 2008.
- Rural Cooperative DevelopmentGrantshelp ruralresidents form new businesses and improve the operations of currentcooperatives. Application deadline is April 8, 2008.
- Small Minority ProducerGrantsare providedto cooperatives or associations of cooperatives with a minimum of 75 percentminority representation among membership or the governing board. Applicationdeadline is April 8, 2008.
For additional information and to obtain loan and grant applications, contact Dean Edwards, Indiana’s director of business programs for the USDA at (317)290-3100, extension 427.
“Various funds are available through multiple programs,” Edwards said. “I am ready and willing to guide people through the loan and grant process.”
Sen. Becker represents Senate District 50, which includes portions of Vanderburgh and Warrick counties.
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