The Trump Administration today announced that the United States Department of Agriculture (USDA) is investing in a $750,000 Intermediary Relending Program Loan to help make loans to small businesses in 14 rural West Virginia counties.
The loan is being provided to the Mid-Ohio Valley Regional Planning and Development Council to start a revolving loan fund that will make loans that will support small businesses and community development projects.
The counties that will benefit from this USDA investment are Barbour, Calhoun, Jackson, Pleasants, Pocahontas, Randolph, Ritchie, Roane, Tyler, Upshur, Webster, Wetzel, Wirt and Wood.
“Helping local lenders provide assistance to small businesses in rural West Virginia is just one of the many ways USDA is able to make a positive impact in our rural communities,” said Kris Warner, West Virginia State Director, USDA Rural Development. “Under the leadership of President Trump and Agriculture Secretary Perdue, USDA has been working tirelessly here in the Mountain State to be a strong partner to rural West Virginia businesses, which helps build stronger and healthier communities, because we know when rural West Virginia thrives, all of America thrives.”
Rural Development’s community facilities direct loans and grants can be used to purchase, construct, and/or improve essential community facilities; purchase equipment; and pay related project expenses. For more information about the Intermediary Relending Program visit https://go.usa.gov/x7xVP.
USDA Rural Development provides loans and grants to help expand economic opportunities and create jobs 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 areas. For more information, visit www.rd.usda.gov.
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