Thursday, Mar 21 2013 3:10PM
An Arizona conference may help local businesses seek out new loan solutions.
An Arizona Revolving Loan Fund Roundtable conference sponsored by the U.S. Department of Agriculture Rural Development (USDA RD) explored strategies for extending more financing to small businesses in rural communities.
The attendees, which included a Native American tribe, economic groups, small businesses and local governments, focused on ways to bolster economic community development across the state in the way of generating additional small business funding. The topics discussed focused on revolving loan programs as a potential solution to business stagnation and high unemployment. In addition, presenters gave information on how local companies could best apply for relending programs offered by the USDA, the types of programs available and lending tips.
USDA RD partner Lyle Frederickson also addressed the topic of overcoming challenges related to lending on tribal lands. The USDA noted that the conference was successful in helping local community members, businesses and lenders network and discuss new lending solutions.
The USDA offers a number of affordable lending products to help facilitate rural community developing, including loans for opening new businesses, investing in new agricultural technology, covering start-up expenses and repairing or replacing old equipment.
For more information, check out this resource: The U.S. Department of Agriculture Rural Development