Connect With Us
                     

NEWS

 

USDA establishes rural business investment program

by KIX101.1 /1230 KFJB News Department posted Apr 21 2014 10:44AM

DES MOINES, Iowa (AP) — The U.S. Department of Agriculture is announcing a new program that will provide $150 million to help small agriculture-related startups in rural areas that need cash to expand.

Secretary of Agriculture Tom Vilsack is in Cedar Rapids on Monday to announce the formation of the first Rural Business Investment Company, licensed by the USDA to establish a fund that will invest in businesses.

The money is coming from eight Farm Credit banks in six states.

New Orleans-based Advantage Capital Partners will choose the businesses to receive investment cash. The company, which has experience investing in small startups in rural areas, will manage the fund.

Vilsack says it's the first step in USDA plans this summer to create a buzz about business activity in the nation's rural areas.


 
Filed Under :
Topics : Business_Finance
Location : Des MoinesIowaNew Orleans
People : Tom Vilsack
04/21/2014 10:39AM
USDA establishes rural business investment program
Please Enter Your Comments Below
Title :
Comment :
On Air Now
Kix Listener Club
Recent Posts
Library janitor steals computer, proceeds to destroy it
Elderly cyclist collides with flatbed truck, dies from injuries
Iowa child "protector" accused of hitting two children
Cashier takes baseball bat to robber, deters theft
Two students suspected of involvement with school threats
Tag Cloud
No Tags Found !
Categories 
Archives