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[Yap State News Brief] USDA Accepting Rural Business Enterprise Grant Applications

 

Resource: Yap State News Brief, February 6, 2013

HILO, HI – USDA Rural Development is seeking applications for the Rural Business Enterprise Grant (RBEG) program.  RBEG grants are available to eligible public bodies, private nonprofit corporations, and federally recognized Indian Tribal groups to finance and facilitate development of small and emerging private business enterprises located in any area other than a city or town that has a population of more than 50,000 and the urbanized area contiguous and adjacent to such a city or town.

Chris Kanazawa, State Director expressed, “the RBEG program is designed to promote sustainable economic development for businesses in underserved rural communities throughout Hawaii and the Western Pacific.  In addition it is an excellent source of funding to enable public and non-profit organizations with the opportunity to leverage their resources to maximize the impact they make in the community.”

RBEG funds may be used for technical assistance (providing assistance for marketing studies, feasibility studies, business plans, training, etc.) to small and emerging businesses, purchasing machinery and equipment to lease to a small and emerging business, creating a revolving loan fund (providing partial funding as a loan to a small and emerging business for the purchase of equipment, working capital, or real estate), or construct a building for a business incubator for a small and emerging business.

Last year the Hawaii / Western Pacific region was allocated $173,000 for the RBEG program (Hawaii – $123,000 Western Pacific – $50,000).  As a result seven projects were selected to fund feasibility studies, technical assistance and training programs and a revolving loan fund.  While the fiscal year 2013, funding level is not yet known, USDA Rural Development Hawaii anticipate its allocation to be similar to 2012 levels.

USDA Rural Development is issuing this announcement prior to passage of a final appropriations bill for fiscal year 2013 to allow potential applicants more time to leverage additional financing to their projects and to prepare their grant applications.

Applications for Hawaii / Western Pacific state RBEG funding consideration for fiscal year 2013 are due by close of business on May 1, 2013.

For more information about the rural business enterprise grants visit USDA Rural Development’s website at http://www.rurdev.usda.gov/BCP_rbeg.html.

Resource: Yap State News Brief, February 6, 2013

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