Yesterday, Agricultural Secretary Tom Vilsack announced the selection of 35 rural microdevelopment organizations for loans and grants to support rural business development, create jobs, and strengthen local communities.
Vilsack stated that, “A strong rural America and a strong agricultural industry go hand in hand. These investments will bring increased economic opportunity to rural residents and communities. They will help organizations expand job and economic opportunities in rural communities across the nation.”
Recipients are development organizations that make loans to microenterprises and microentreprenuers and provide business-based training and technical assistance to micro-borrowers.
For example, in Alabama, Seedco Financial Services, Inc., was selection to receive a loan a grant to capitalize a rural microloan revolving fund that will make loans and provide technical assistance to rural business-owners and microenterprises in 11 high-poverty counties.
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