Ryan Taylor, USDA Rural Development state director, announced today that 11 recipients across North Dakota have been selected to receive $717,000 in grants to support the start-up or expansion of rural small businesses. The funding is provided through USDA’s Rural Business Development Grant (RBDG) program.
“By providing additional capital for business development, we are helping strengthen and diversify our rural communities,” said Taylor. "However, capital alone doesn't build economies. These are investments in people, ideas, communities, dreams and business plans. It's the people, the community champions and their aspirations, who make these grant awards so rewarding for their local rural economies."
The RBDG program, authorized through the 2014 Farm Bill, is designed to assist the startup or expansion of small and emerging private businesses and/or non-profits in rural communities. The grant funding can be used to acquire or develop land, buildings, plants and equipment; build or improve access roads, utility extensions, and water and waste disposal facilities; provide technical assistance; establish revolving loan funds; and to support rural distance learning programs that provide educational or job training.
Since 2010, USDA Rural Development in North Dakota has financed over $5.5 million to 71 recipients through the RBDG program in support of small businesses. For more information on USDA Rural Development programs, please visit http://www.rd.usda.gov/nd.