USDA Supports Small Business with Over $9 Million in Loans & Grants

On Friday, July 15, 2016, Tom Vilsack, Agriculture Secretary for the United States Department of Agriculture (USDA), announced that the organization has invested more than $9 million in loans and grants to support job growth and economic development in 12 different states.

According to the press release, “the funding is being provided through USDA’s Rural Economic Development Loan and Grant (REDLG) program, through which USDA provides zero-interest loans and grants to utilities that lend funds to local businesses for projects to create and retain employment.”

Zero-interest loans and grants such as these can be incredible opportunities for small businesses, especially those who may not qualify for a bank loan or struggle to find access to capital.

Other organizations are also making moves to support small business: Companies like KIVA and the Association for Enterprise Opportunity (AEO) are supporting small business with investment and education opportunities. On July 27, 2016, the AEO will host a champagne brunch, presented by Dun & Bradstreet, to discuss the state of microbusiness and finance in the US. Kiva will share how they are trying to bring investment to small and microbusinesses and the AEO will explain its plan of action for supporting microbusinesses.

RSVP for the event by emailing info@aeoworks.org or by calling 202-650-5580, ext. 54.

Learn more about the AEO.

Learn more about Kiva. 

Photo Credit: smug, Twenty20