WASHINGTON, D.C. – An organization in Meigs County has been awarded new federal resources to create jobs. U.S. Sen. Sherrod Brown (D-OH) today announced that the Meigs County Community Improvement Corporation was awarded $99,000 from the U.S. Department of Agriculture (USDA)’s Rural Business Enterprise Grant (RBEG) Program to establish a Revolving Loan Fund for local, emerging businesses.
“Thanks to these federal resources, small businesses throughout Ohio will have a better shot at creating new opportunities and jobs in small towns and rural areas,” Brown said. “Small businesses are essential to our economy, and through this award, local communities and their residents can lead the way in rural economic development.
The new loan fund will be used for gap financing. Loans will be granted to small and emerging businesses on a need basis.
Earlier this year, Brown introduced the The Business Incubator Promotion Act which would help make more Ohio communities eligible to receive funds that support business incubators through the U.S. Economic Development Administration (EDA).
Brown, Chair of the Senate Agriculture Subcommittee on Jobs, Rural Economic Growth, and Energy, is a strong advocate of rural economic development.