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Posts tagged: Business and Industry Guaranteed Loan

With Support from USDA Rural Development a South Dakota Company Expands

Through passion, hard work, and support from USDA Rural Development, Legend Air Suspensions has become a national and international success.  Rural Development South Dakota State Director Elsie M. Meeks and Area Director Tim Potts visited the owner Jesse Jurrens recently to celebrate the accomplishments of his business, Independent Cycle Inc., dba Legend Air Suspensions.

USDA assisted the business through a Business and Industry Guaranteed loan in conjunction with First National Bank, Sturgis, South Dakota.  Mr. Jurrens credits his refinance with the help of Rural Development, increased efficiencies, dedicated employees and internal cost saving measures that made the business not only stabilize but grow their net income this last year. Read more »

Through the Recovery Act, an Oregon Business, Small Bank Find Opportunity and Protect Jobs

A few years ago, RAM Trucking was mainly a hauler of building materials—but everyone knows what happened to the housing market. Yet, RAM Trucking is still on the road and more resilient than ever.

To safely steer his company when the economy began to slide, President Dale Latimer applied a basic principle of driving in hazardous conditions:  When the weather gets rough, keep your tires inflated to the right pressure and make sure you’ve got enough tread.  In this case, getting enough tread meant restructuring the company’s financing and accessing working capital to position for opportunities beyond the construction arena. Read more »

USDA Rural Development Loan Guarantee Helps Business Maintain Equal Employment Opportunities for People with Disabilities

For the last 32 years, Minnesota Diversified Industries (MDI), a non-profit social enterprise, has been dedicated to providing job opportunities for people with disabilities.  Founded in 1964 by John DuRand as an Occupational Training Center, MDI transitioned into an Affirmative Business in 1978.  Company leaders wanted to provide people, specifically people with disabilities, equal opportunity employment.

MDI is an AbilityOne program through which government products and services are set aside for people with disabilities.  With locations in St. Paul, Grand Rapids, and Hibbing, MDI currently employs 131 people, 70 of which are people with disabilities. Read more »

A Kansas Community Replaces an Outdated Hospital with Help from USDA and the Recovery Act

Hillsboro, a rural Kansas community of just over 2,400 residents is nestled between the North Cottonwood and South Cottonwood Rivers in Marion County.  Community leaders recently celebrated a groundbreaking in the frozen soils of central Kansas as the first step in the construction of their new community hospital.

The new 27,750 square foot facility will replace a 50-year old structure to provide health care to Hillsboro residents and serve nearby smaller communities as well.  The new hospital is a partnership between the City of Hillsboro and HMC/CAH and was made possible by a USDA Rural Development Recovery Act Business and Industry Loan Guarantee in the amount of $9,250,000 to the Bank of Hays. Read more »

Local Milk in the Heartland

We’re just finishing a trio of new videos introducing programs within the Rural Development mission area that can be used to support local and regional food systems.

Prairieland Dairy of Hallam, Nebraska had a vision: they wanted to expand their operation to meet growing demand for sustainable, source-verified products.  In their mind, Nebraskans needed fresh, wholesome milk products produced in their own backyard.  With the help of USDA’s Rural Development office and a Business and Industry Guaranteed Loan, Prairieland was able to secure a $650,000 loan through a community bank, and today they are marketing products made with “local, farm-fresh Nebraska milk.” Read more »

USDA Rural Development Business and Cooperative Programs Administrator Judy Canales Tours Ocean Classroom Foundation as a part of her Visit to Maine

Ocean Classroom Founder and President Alix Thorne talks with Administrator Canales about the business.

(left to right) Camden National Bank Senior Vice President Jack Williams; Ocean Classroom Foundation recent Discovery High School Student and Recipient of the Alix Thorne Most Outstanding Shipmate Award Charlie Campbell; USDA Administrator Judy Canales; Maine Rural Development State Director Virginia Manuel; and Ocean Classroom Foundation Founder and President Alix Thorne.

As a part of her recent trip to Maine, USDA Rural Development Administrator for Business and Cooperative Programs Judy Canales visited the Ocean Classroom Foundation, in Boothbay Harbor. This unique non-profit organization teaches its students, mostly young adults, life skills through learning how to sail and navigate the open sea. Read more »