CORRUPTION ALERT Under IRP, USDA lends money to economic development intermediaries (non-profits and public bodies) who re-lend it to rural businesses (ultimate recipients) that might not otherwise be able to obtain such financing. The program supports sustainable economic development and helps create or retain jobs in disadvantaged and remote communities. USDA encourages intermediaries to work with state and regional representatives and with other public and private organizations that can provide complementary resources. Since President Obama took office, the IRP program has created or saved an estimated 92,000 jobs. Under RMAP, USDA provides loans and grants to Microenterprise Development Organizations (MDOs) to help microentrepreneurs — very small businesses with 10 or fewer employees — access microloans to start or develop businesses. MDOs use the funds to provide training and technical assistance to eligible small businesses or to establish revolving loan funds to provide micro-loans, typically $5,000 to $50,000, to rural microentrepreneurs. Since the beginning of the Obama Administration, the RMAP program has provided $52 million for 257 projects to support very small business enterprises. Through NRCS, USDA will provide technical and financial assistance in StrikeForce areas, including $450,000 in rural New Mexico. Weller said, through StrikeForce, USDA is now working with 80 percent more farmers and ranchers than before in persistent poverty counties and has invested a total of $652 million in targeted conservation funding since 2010. StrikeForce funds, provided through the USDA Environmental Quality Incentives Program, can be used for conservation activities, including water conservation improvements and soil protection. Applications are accepted at local USDA Service Centers. usda.gov/wps/portal/usda/usdahome?contentid=2014%2F05%2F0093.xml
Posted on: Fri, 27 Jun 2014 03:12:36 +0000
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