USDA has $25 million for rural businesses

EAST LANSING – U.S. Dept. of Agriculture Rural Development State Director for Michigan James J. Turner announced that the agency has $25 million available in loan guarantees for eligible Michigan businesses through partnerships with local lending institutions.

“This level of program funding represents a significant opportunity for Michigan businesses seeking funding for a wide variety of purposes,” said Turner. “The Business and Industry Guaranteed Loan Program can assist with business development, improvements and growth, ultimately saving and creating jobs in Michigan communities.”

Eligible entities include any type of legally organized business entity and individual business owners located in a community of 50,000 or fewer population.

For more information, contact the Business Programs Division at (517) 324-5157, e-mail traci.smith@mi.usda.gov, or visit the web site at rd.usda.gov/mi.