News

USDA Awards $20.1M for Rural Business Development – Only $106K for Montana

The U.S. Department of Agriculture (USDA) recently announced the selection of 97 loan and grant recipients in 24 states that will receive $20.1 million in rural business development funds. The loans and grants are expected to assist in creating or saving nearly 10,000 rural jobs and supports 772 business ventures as part of the Bush Administration’s efforts to spur economic development in rural areas.

Administered through USDA Rural Development, the grants and loans are awarded to local organizations which in turn use the funds for a variety of purposes, including revolving business loan funds, studies, technical assistance, community facilities, improving medical care and communications, and other projects to stimulate jobs and growth. Many of the awards are made in conjunction with assistance from other sources, leveraging USDA funds for greater effect.

The assistance includes Rural Business Enterprise Grants, Rural Business Opportunity Grants, Rural Economic Development Loans and Grants and Rural Business Enterprise & Television Demonstration Grants. The recipients are more than 80 cooperatives, nonprofit corporations, local governments, tribal authorities and other entities. A list of the awards is available at: http://www.rurdev.usda.gov/rd/newsroom/2003/2003busdevel.html

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Montana Awardees

Northern Cheyenne Social Preservation Project, Inc. Northern Cheyenne Reservation, Montana $90,000

Chippewa Cree Community Development Corporation Rocky Boy Reservation, Montana $16,000

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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.

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