Bozeman, Mont., Jun 10, 2013 -- USDA Rural Development's Montana State Director Tony Preite announced that USDA will provide Triangle Communications of Havre, Mont. a loan that they will relend to TicketPrinting.com of Harlowton, Mont. for the purchase of much-needed new equipment. The United States Department of Agriculture (USDA) remains focused on carrying out its mission, despite a time of significant budget uncertainty. Today’s announcement is one part of the Department’s efforts to strengthen the rural economy.
"USDA has a long-standing and positive relationship with Triangle," said Preite. "With these funds, Triangle can turn around and invest in the communities they serve. In this case, it's to help a great Montanan business expand even more. TicketPrinting.com benefits, Harlowton benefits, Triangle Communications benefits, and Montanans benefit. This is exactly what Rural Development is here to do, and we're pleased to be a part of this project."
Through the Rural Economic Development Loan program, USDA provides zero-interest loans to utility cooperatives that serve rural populations. The utility then uses those funds to pass through to a business or organization in a community. In this instance, Triangle Communications applied for and received a $678,400 loan that they will turn around and lend to TicketPrinting.com of Harlowton, Mont.
TicketPrinting.com is an internet-based printing company that provides customized ticket printing and event management products to a global clientele. The equipment purchased by this loan will allow the company to meet anticipated near-term growth as well as hire an additional seven positions while retaining the fifty employees they currently have. TicketPrinting.com is also investing an additional $169,600 into the equipment for a nearly $850,000 capital improvement project for the company.
USDA, through its Rural Development mission area, has a portfolio of programs designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America.
USDA has made a concerted effort to deliver results for the American people, even as USDA implements sequestration – the across-the-board budget reductions mandated under terms of the Budget Control Act. USDA has already undertaken historic efforts since 2009 to save more than $828 million in taxpayer funds through targeted, common-sense budget reductions. These reductions have put USDA in a better position to carry out its mission, while implementing sequester budget reductions in a fair manner that causes as little disruption as possible.