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NEWS RELEASE 1303
SW First American Place, Suite 100, Topeka,
KS 66604-4040 |
FOR IMMEDIATE RELEASE – August 16, 2005
Contact - Harold Alford (785) 271-2701
$250,000 Funding For Rural Business Enterprise Projects Announced By USDA Rural Development
Financial Assistance For New Business Startups and Existing Business Expansion
Topeka, KS – USDA Rural Development State Director Chuck Banks announced today that the Agency has approved four applicants, totaling $250,000 under the Agency’s Rural Business Enterprise Grant Program, to provide funding for business development and job creation and improve economic opportunities in rural Kansas.
"Small businesses are the backbone of our rural economy, their entrepreneurial spirit and commitment to their community is helping to create jobs and bring economic stability to rural communities across Kansas. These grants will provide much needed investment financing for more rural businesses to flourish. USDA funds, combined with the Agency’s valuable technical assistance which supports local leadership, helps make these beneficial rural businesses a reality,” commented State Director Banks.
Specifically, the four recipients approved for funding by USDA Rural Development follow:
Thomas County Economic Development Alliance Board, Colby, KS - $119,300 grant. Agency funds will be used to set up a Revolving Loan Fund to assist existing businesses and entrepreneurs to develop or expand their businesses in Thomas County, Kansas. The proposed project will create 24 jobs. Agency funds will be leveraged with an applicant contribution of $15,000.
SEE-KAN Resource Conservation and Development Project, Inc., Chanute, KS - $100,000 grant. Funding will be used to establish a Revolving Loan Fund to provide financial assistance for new business startups and help existing businesses expand within the 11 counties served by SEE-KAN. Agency funds will be leveraged with an applicant contribution of $7,500.
City of Minneapolis, Minneapolis, KS - $25,000 grant. Funding of this project, saving sixteen jobs and creating three new jobs, will be used to upgrade an existing gas line in the East Industrial Park. This upgrade will allow for future development of businesses and retain an existing business. Agency funds will be leveraged with an applicant contribution of $2,000.
Montgomery County Action Council, Inc., Independence, KS – $5,700 grant. USDA Rural Development funds will be used to complete a feasibility study for a new motel proposed in Caney, Kansas. The new business would create four new jobs.
During today’s announcement, State Director Banks thanked the Kansas Congressional Delegation for their continued support of the Agency’s Rural Business Enterprise Grant Program, along with the many other USDA Rural Development programs. “Over the past eleven years alone, the Agency’s Rural Business Enterprise Grant Program has contributed over $3.5 million in added growth to the Sunflower State’s economy. This represents over 580 jobs created and/or saved in communities across the state,” remarked Banks.
USDA Rural Development's mission is to deliver programs in a way that will support increasing economic opportunity and improve the quality of life of rural residents. As a venture capital entity, the Agency provides equity and technical assistance to finance and foster growth in homeownership, business development, and critical community and technology infrastructure in rural America. For additional information regarding USDA Rural Development programs, interested parties may call the Agency’s state headquarters at 785-271-2700 or log onto the state’s USDA Rural Development website at: www.rurdev.usda.gov/ks
USDA Rural Development – Committed to the future of rural communities.
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