10/01/02

Thirty-two states will receive more than $6.8 million in rural business loan and grant funds designed to assist in the fostering of economic development in rural areas.
“Expanding America’s rural economy depends on the development of new businesses and creation of new jobs,” said Veneman. “These grants will provide rural residents with the financial tools needed to create business ventures and expand their local economies.”
Veneman noted that nearly 400 businesses will benefit from the grant funds, along with the expectation that at least 2,400 jobs will be created or saved. Grants and loans for the 40 proposals will be provided through USDA’s Rural Development Rural Business Enterprise Grant (RBEG) program, Rural Business Opportunity Grant (RBOG) program and the Intermediary Relending Program.
Virginia will receive $198,958; Delaware, $175,000; West Virginia, $153,536; Pennsylvania,$150,000; and New Jersey, $70,000.
A complete list of the individual grant recipients can be found at www.rurdev.usda.gov/rd/newsroom/news.htm