|USDA FUNDS IMPROVES LIBRARY, BOOSTS BUSINESSES IN WARREN, MINN.|
|WARREN, Minn., Jul 26, 2012
@@USDA Rural Development State Director Colleen Landkamer visited the Warren city hall today to highlight USDA funding that will make improvements to the city library and create a revolving loan fund for small businesses in the community.
“Access to a community library and access to capital for small businesses builds strong and sustainable rural communities,” said Landkamer, who later in the day helped break ground on the new North Valley Health Center in Warren. That facility is being financed with a $13.5 million USDA loan. “There is a lot happening in Warren and it is good to see this rural community thriving.”
The city is using a $33,000 grant from USDA Rural Development’s community facilities program to fund a portion of an improvement project that will make the library handicap accessible, build an addition for more shelving space and programming and purchase equipment.
The entire project is expected to cost about $246,000. Other funding partners include the Bremer Foundation, the Northwest Regional Library System, the city of Warren and community donations.
Landkamer also highlighted how a new $363,000 loan through USDA’s Intermediary Relending Program (IRP) will boost local small businesses. Through the IRP program, the Warren Economic Development Authority (EDA) will establish a revolving loan fund, which will make loans to area small businesses for working capital, expansion, gap financing and job creation projects.
As each loan is repaid, the EDA is able to make additional loans to other local businesses. The city of Warren has also received two previous USDA awards for revolving loan funds. To learn more about accessing these funds, and the new IRP funds, contact Karl Frigard at the Warren City Offices 218-745-5343.
“We are very appreciative of the funding from the USDA,” said Warren mayor Deb Myrfield. “All of these programs have helped to make our community a great place to live.”
USDA Rural Development has over 47 programs that improve housing, infrastructure, businesses, renewable energy and high-speed Internet in rural areas. Since 2009, Rural Development has invested over $3 billion throughout rural Minnesota.
To learn more, visit www.rurdev.usda.gov/mn, or call the local office in Thief River Falls at (218) 681-2843, ext. 4.