Colorado, Oct 12, 2011 -- DENVER, CO. – Colorado Rural Development is currently accepting pre-applications for the Rural Business Enterprise Grant (RBEG) Program. The RBEG program provides grants for rural projects that finance and facilitate development of small and emerging rural businesses help fund business incubators, and help fund employment related adult education programs. Last year Colorado funded nearly $370,000 in RBEG applications. “The RBEG program is a key component of USDA Rural Development’s activities to promote regional development across America,” said Jim Isgar, Colorado Rural Development State Director. Eligible applicants include rural public entities (towns, communities, and State agencies), Indian tribes and rural private non-profit corporation.
The RBEG program serves as a catalyst for rural communities to launch new business ventures. In Fiscal Year 2011, Lincoln County Economic Development was awarded funding for a feasibility study to address possibilities for a 12 acre property once used as a livestock auction business. The City of Rocky Ford was awarded a $50,000 RBEG to establish a Revolving Loan Fund for small and emerging businesses. The city hopes to create at least one job for every $10,000 of grant funds expended. “In the long term, these rural investments will help ensure that Colorado’s rural communities are repopulating, self-sustaining and thriving economically,” said Isgar.
Pre-Applications should be submitted to your local Rural Development office by December 31, 2011. For further information on rural programs or to locate the office closest to you visit our webpage at http://www.rurdev.usda.gov/co.
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 existing portfolio of more than $155 billion in 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.