JARI Growth Fund Receives $600,000 from USDA
VP, Economic Development
JARI Growth Fund is pleased to announce the awarding of $600,000 from the USDA for a Rural Microentrepreneur Assistance Program (RMAP) loan product and technical assistance. The JARI Growth Fund USDA RMAP Loan Product will fund businesses and entrepreneurs throughout the Southern Alleghenies region which includes Bedford, Blair, Cambria, Fulton, Huntingdon, and Somerset Counties.
The JARI Growth Fund USDA RMAP program will help microenterprises start up and grow. Loan funds up to $50,000 for small businesses with less than 10 employees are available. The fund will also provide training and technical assistance to microloan borrowers and micro entrepreneurs.
“We are pleased to collaborate with our economic development partners in having another fund available to assist small businesses in our region,” said Linda Thomson, JARI President. “The RMAP Loan Product is another tool in the Startup Alleghenies ecosystem that we all have developed in the region and hopefully will help the microenterprises that we serve reach their full potential,” said Steven Howsare, JARI Growth Fund Chair and Southern Alleghenies Planning & Development Commission Executive Director. “Good businesses are one of the bedrocks of a healthy community, and assisting rural microentrepreneurs is key to maintaining a strong business community,” said Curt Coccodrilli, USDA Rural Development State Director.
For more information, contact Michele Clapper at the JARI office (814) 535-8675.