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(KTNC)--Five Nebraska utilities and economic development organizations will share more than $1.5 million in USDA loans and grants to help boost business activities in rural communities.
Among the grant recipients is the Southeast Nebraska Development District, which received a $250,000 loan and $62,500 grant. The funds will be used to make micro-loans and provide technical assistance to very small businesses in 15 counties in southeast Nebraska.
Also, the Center for Rural Affairs in Lyons will use a $500,000 loan to make micro-loans to support small rural businesses statewide.
Other recipients are the Perennial Public Power District, the Nebraska Enterprise Fund of Oakland, and First Ponca Financial, Inc., of Grand Island.
Funds are being provided through the Rural Economic Development Loan and Grant Program and the Rural Micro-entrepreneur Assistance Program.
The Micro-entrepreneur Assistance Program was created initially under the 2008 Farm Bill and was reauthorized in the 2014 Farm Bill. Funding is contingent upon recipients meeting the terms of their loan or grant agreements.
© Many Signals Communications
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Hiawatha, Ks 66434