FOR IMMEDIATE RELEASE
Charbonneau encourages local businesses to
apply for loans, grants
$33 million available for rural development
(STATEHOUSE) – Sen. Ed Charbonneau (R-Valparaiso) encourages local business owners to submit applications for loans and grants provided by the United States Department of Agriculture (USDA).
According to Charbonneau, 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.
“These programs help businesses in rural areas create jobs, retain employment, provide training, promote business development and supply technical assistance,” Charbonneau said. “By addressing these areas of business, the local economy could be improved while sustaining Indiana’s overall economy.”
According to Charbonneau, currently the USDA is accepting applications for the following grant and loan programs
- Rural Economic Development Loans offer zero-interest loans to rural development utility program borrowers. Borrowers then redistribute the funds with zero-interest to local groups and entities promoting economic development and job creation in their communities. Deadline for third quarter applications is March 31, 2008. Deadline for fourth quarter applications is June 30, 2008.
- Rural Business Opportunity Grants provide funding for training and provides assistance for business development. Application deadline is March 31, 2008.
- Rural Cooperative Development Grants help rural residents form new businesses and improve the operations of current cooperatives. Application deadline is April 8, 2008.
- Small Minority Producer Grants are provided to cooperatives or associations of cooperatives with a minimum of 75 percent minority representation among membership or the governing board. Application deadline 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. Charbonneau represents Senate District 5, which includes Starke County and portions of Porter, LaPorte, Marshall, Jasper, Pulaski, and St. Joseph counties.
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