Washington, DC, Feb 01, 2012 -- Agriculture Secretary Tom Vilsack has announced that loans and grants will be provided to applicants in ten states to support businesses, improve the quality of medical care, and create or save hundreds of jobs. Funding is provided through USDA's Rural Economic Development Loan and Grant program.
"During his State of the Union address last week, President Obama laid out a blueprint for an economy that's built to last – an economy built on American energy, skills for American workers, and a renewal of American values," said Vilsack. "The funding announced today will help support the President's vision by providing our rural communities with resources to support small businesses, improve public facilities, and create new, sustainable jobs.”
In Nebraska, Benkelman Telephone Co. in Benkelman was selected to receive a loan of
$129,000 that will finance the business transition of Wauneta Roller Mills, an operational wheat flour mill in Wauneta, Neb. Wauneta Mills has been a five-generation flour mill, established in 1925. The standing purpose of the mill is to continue to provide a superior flour product to businesses and consumers in the area. The new owners wish to develop a niche market for flour mixes to expand profitability. This project will save three full time jobs, one part-time job and will create one full time job.
Funding of each recipient is contingent upon the recipient meeting the conditions for the grant or loan.
Applications for the Rural Economic Development Loan and Grant program are accepted on a monthly submission cycle from eligible rural utility service borrowers.
For more information contact Marla Marx at (308) 632-2195 ext. 1132 or email firstname.lastname@example.org.
USDA, through its Rural Development mission area, administers and manages housing, business and community infrastructure and facility programs through a national network of state and local offices. Rural Development has an active portfolio of more than $155 billion in affordable loans and loan guarantees. These programs are designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America.