$237K to be invested in rural business development
News from the U.S. Department of Agriculture
RONAN — The Trump Administration announced that the United States Department of Agriculture is investing $237,000 in business development in rural southwestern Montana and across the state. USDA awarded the grants through the Rural Business Development Grant program.
“Small business development and retention is critical to the prosperity of our rural towns and communities,” said Montana State Director Charles Robison.
Lake County Community Development Corporation received a $28,600 RBDG to fund targeted technical assistance, training and numerous other activities provided by LCCDC. All of which lead to the development and/or expansion of rural businesses in Lake, Mineral and Sanders Counties. These funds will be used over the course of 40 workshops hosted by LCCDC over the next 12 months. They estimate 200 hours of direct expert assistance will be provided to individual businesses.
In addition to direct assistance, LCCDC plans to fund four entrepreneurs to participate in their Leadership Flathead Reservation workshop that was recently developed; this will provide the opportunity for these entrepreneurs to carry the skills and leadership techniques throughout the Flathead Reservation and to the small community businesses within. And lastly, LCCDC will use Value Builder System, a pilot program that assesses a business’s current valuation and identifies red flags that could be impediments to a successful transition for succession planning. USDA’s investment leveraged an additional $34,000 in private investment.
USDA Rural Development provides loans and grants to help expand economic opportunities and create jobs in rural areas. This assistance supports infrastructure improvements; business development; housing; community facilities such as schools, public safety and health care; and high-speed internet access in rural areas. For more information, visit www.rd.usda.gov/mt.