DAVIS, Calif., Dec. 07, 2022 – USDA Rural Development California State Director Maria Gallegos Herrera today announced that the Department is investing nearly $54 million to help create new and better market opportunities and expand essential services for rural people, businesses, and entrepreneurs in California.
“The Biden-Harris Administration is committed to rebuilding the economy from the bottom up and the middle out,” said Gallegos Herrera. “Today’s investments prioritize economic development and growth in rural areas by expanding access to capital, business development, and technical assistance to small business owners across California. By investing in rural areas that are critically important to our economy but often left behind, we are building an inclusive economy where all can thrive.”
The funding will help keep resources and wealth made by rural people right at home through affordable financing and technical assistance. It will help rural Californians start businesses and allow small business owners to grow. It will also open the door to new economic opportunities for communities and people who historically have lacked access to critical resources and financing.
In California, investments are announced in two program areas.
Under USDA Rural Development’s Business and Industry Loan Guarantees Program:
Shri Jai Ranchhodrai Inc. will use a $6.6 million loan guarantee to purchase a 110-room limited-service branded lodging facility. Located in Santa Nella, the project will provide visitors and interstate travelers lodging needs and attract customers to local businesses.
Aranda Fuels LLC is receiving a $3.2 million loan guarantee to purchase commercial real estate for a gas station, convenience store, and car wash located in Cameron Park.
Royal Oaks Hotel LLC will use a $10 million loan guarantee to purchase, renovate, and rebrand a 70-room hotel located in Oakhurst. Once rebranded, the business will attract more guests bringing more money to other local small businesses.
Lucky Travel Plaza LLC is receiving a $8.6 million loan guarantee to help with additional financing. Lucky Travel Plaza LLC is a gasoline station with a convenience store located in Soda Springs.
Hotel Ava LLC will use a loan guarantee of $25 million to construct and develop a four-story hotel located in the city of Paso Robles. This hotel will attract more tourists to the local area which will help local businesses thrive.
Under USDA Rural Development’s Rural Microentrepreneur Assistance Program, the following investments are announced in California:
Fresno Area Hispanic Foundation will use a $65,198 grant to provide technical assistance to business owners for marketing, management, and other forms of technical assistance needed in Fresno and surrounding counties.
The Arcata Economic Development Corporation is receiving $43,023 in grant to provide technical assistance to applicants, potential applicants, and current borrowers.
Feed The Hunger Fund is receiving $49,088 in grant to grow its Rural Microloan Revolving Loan Fund program. The project will also be used to provide training and technical assistance to small business owners and businesses that are in the organization’s service areas in California and Hawaii.
California Farmlink will use $59,537 in grant to grow its Rural Microloan Revolving Loan Fund program and provide training and technical assistance to small business owners and businesses that are located within the organization's service area.
Also through the Rural Microentrepreneur Assistance Program, the following organizations are awarded funding to provide technical assistance to rural small business owners and businesses:
The Imperial Valley Development Corporation is awarded $32,676 in grant to provide loans to businesses in Imperial, San Diego, Riverside, San Bernardino, Orange, Los Angeles, Ventura, and Kern Counties.
The Economic Development & Financing Corporation (EDFC) will use $36,322 in grant to provide technical assistance to applicants, potential applicants and existing borrowers that have received loans from the EDFC under its Rural Microloan Revolving Loan Fund.
The Colusa County Partnership (CCP) is receiving a grant of $3,633 to assist with providing technical assistance to applicants, potential applicants and existing borrowers that have received loans from the CCP under their Rural Microloan Revolving Loan Fund.
USDA touches the lives of all Americans each day in so many positive ways. In the Biden-Harris Administration, USDA is transforming America’s food system with a greater focus on more resilient local and regional food production, fairer markets for all producers, ensuring access to safe, healthy and nutritious food in all communities, building new markets and streams of income for farmers and producers using climate-smart food and forestry practices, making historic investments in infrastructure and clean-energy capabilities in rural America, and committing to equity across the Department by removing systemic barriers and building a workforce more representative of America. To learn more, visit www.usda.gov.
Under the Biden-Harris Administration, Rural Development provides loans and grants to help expand economic opportunities, create jobs and improve the quality of life for millions of Americans in rural areas. This assistance supports infrastructure improvements; business development; housing; community facilities such as schools, public safety and health care; and high-speed internet access in rural, tribal and high-poverty areas. For more information, visit www.rd.usda.gov/ca.
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