USDA Loans Available for Microentrepreneurs

The United States Department of Agriculture is looking for microentrepreneurs and microenterprises that need funding.
Under the USDA Rural Development’s Rural Mircroentrepreneur Assistance Program, the USDA is offering low-rate loans for start up businesses. The money stems from the Food, Conservation and Energy Act of 2008 (which is part of the Farm Bill).
“The Obama Administration and USDA understand that helping small, start-up businesses is fundamental in building a sustainable rural community,” Vilsack said via media release. “This new program will help provide access to capital, business-based training and technical assistance to the smallest of small businesses. We need to embrace new strategies to help create a thriving rural economy.”
The money can be used for business-based training and technical assistance. Applications are accepted quarterly throughout the year and those for the 2010 fiscal year must be received by July 16, 2010./ $45.1 million is available for 2010, and of this money $36.2 million is available for loans.
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