On Friday, November 6, 2009, US Department of Agriculture (USDA) Secretary Tom Vilsack announced that $56.2 million in loan guarantees for rural businesses, funding made available through the American Recovery and Reinvestment Act (ARRA), will be distributed to 12 rural businesses.
The companies receiving the money are located throughout the nation. One company in North Carolina will use its money to construct a wood pellet manufacturing facility—wood pellets “can be used as a renewable source of heat and power for various industries.” Another company located in Minnesota makes drivetrain products.
The funding was made available by ARRA and is being distributed through USDA Rural Development’s Business and Industry Guaranteed Loan Program. It is Rural Development’s mission “to increase economic opportunity and improve the quality of life for rural residents.”
Secretary Vilsack issued this statement in the USDA news release, ‘"The Recovery Act funds announced today will help businesses get access to the capital they need to expand their businesses and bring stability to America's small cities and towns. . . President Obama and USDA are committed to building strong rural communities by helping businesses grow so we can renew and revitalize our country."
To read the USDA news release or to see a list of the recipients, click here.
The companies receiving the money are located throughout the nation. One company in North Carolina will use its money to construct a wood pellet manufacturing facility—wood pellets “can be used as a renewable source of heat and power for various industries.” Another company located in Minnesota makes drivetrain products.
The funding was made available by ARRA and is being distributed through USDA Rural Development’s Business and Industry Guaranteed Loan Program. It is Rural Development’s mission “to increase economic opportunity and improve the quality of life for rural residents.”
Secretary Vilsack issued this statement in the USDA news release, ‘"The Recovery Act funds announced today will help businesses get access to the capital they need to expand their businesses and bring stability to America's small cities and towns. . . President Obama and USDA are committed to building strong rural communities by helping businesses grow so we can renew and revitalize our country."
To read the USDA news release or to see a list of the recipients, click here.
Posted: 11/09/09
