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Taking Charge: How Rural Residents Are Switching from Employees to Business Owners
December 14, 2016 /
The retirement of the baby boom generation of business proprietors is predicted to result in a major turnover in ownership. Developing an ownership succession plan is especially challenging in rural areas where many small businesses are at risk of closing from the lack of locally available financing to keep them in operation. Rural Development’s Business and Industry (B&I) Guaranteed Loan Program http://www.rd.usda.gov/programs-services/business-industry-loan-guarantees now has new capabilities as of this August that specifically accommodate the needs of financing ownership succession.
by Sam Rikkers, Administrator, Rural Business Service
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Posted in: Rural Communities
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