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USDA Invests $61,946 to Expand Market Opportunities for Businesses and Entrepreneurs in Rural West Virginia

Name
Andrew Stacy
Phone
Release Date
Dec 07, 2022

MORGANTOWN, Dec. 07, 2022 – U.S. Department of Agriculture (USDA) Rural Development West Virginia State Director Ryan Thorn announced today that Woodlands Community Lenders in Elkins will receive $61,946 to provide financial and technical assistance to rural entrepreneurs and businesses through the Rural Microentrepreneur Assistance Program.

“At USDA Rural Development we are advocates for, investors in, and partners to rural communities and the people, businesses, and organizations within those communities,” said USDA Rural Development West Virginia State Director Ryan Thorn. “I look forward to seeing the positive impact that this funding will have on rural businesses in these central West Virginia counties.”

The funding will allow the Woodlands Community Lenders to capitalize a Rural Microloan Revolving Fund to make microloans and provide technical assistance to rural microentrepreneurs and microenterprises in Randolph, Barbour, and Tucker counties. This will help keep resources and wealth made by rural West Virginians right at home through affordable financing and technical assistance. It will help rural West Virginians 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.  

You can read the national announcement made yesterday related to these USDA Rural Development funding programs here.

Background:

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.

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