NBC Montana: USDA to give MT over $7.5M in rural development funding
MISSOULA, MT — Sen. Jon Tester announced the U.S. Department of Agriculture Rural Development will provide $7,515,299 in funding for rural development across Montana.
The funding breaks down into $6.9 million in loans and $615,299 in grants, with funds going toward projects in Madison County, Missoula, Browning, Ronan, and Great Falls.
Last November, the USDA’s Rural Development Program allocated nearly $1.7 million for rural housing and economic development.
Sen. Tester’s Office released the following information:
As part of his continued push to support economic growth in rural communities, U.S. Senator Jon Tester today announced that he secured $7,515,299 for rural development across Montana. The funding includes $6.9 million in loans and $615,299 in grants from U.S. Department of Agriculture (USDA) Rural Development.
“To keep pace with the Treasure State’s growing economy, it’s critical that Montana’s rural communities have access to the capital and resources they need to grow and sustain their businesses,” Tester said. “I’m proud to have secured this funding to boost our small businesses, create jobs, and ensure that entrepreneurs have access to the training and resources they need to be successful.”
A full breakdown of the funding and projects can be found below:
- $6.9 million Business and Industry Loan Guarantee for Silver Star Hot Springs (Madison County)
- $93,135 Rural Microentrepreneur Assistance Program (RMAP) grant for Montana Community Development Corporation (Missoula)
- $66,122 Rural Microentrepreneur Assistance Program (RMAP) grant for Native American CDC Financial Services (Browning)
- $56,042 Rural Microentrepreneur Assistance Program (RMAP) grant for Lake County Development Corporation (Ronan)
- $200,000 Rural Cooperative Development grant for Lake County Development Corporation (Ronan)
- $200,000 Rural Cooperative Development grant for Montana Cooperative Development Center (Great Falls)
Tester has been Montana’s leading champion for rural development. Last month, Tester secured more than $2 million to expand local meat processing capacity in Montana, and in March, Tester secured $7.8 million for 30 Montana agriculture small businesses, which included funding for three new USDA-certified meat processing facilities.
Last November, Tester secured nearly 1.7 million for rural housing and economic development. This funding was awarded through USDA’s Rural Development Program and included Rural Community Development Initiative (RCDI) grants, Tribal College Initiative grants, Housing Preservation grants, and Socially Disadvantaged Groups grants.