WOODBINE – Greater Woodbine Chamber of Commerce invited Victoria Fekete, business programs director for U.S. Department of Agriculture (USDA) Rural Development, to give a Jan. 14 presentation on business programs to an audience composed of Chamber members and other interested small business owners.
Woodbine has used a number of USDA programs to further its economic and social development goals such as the renovation of the firehouse and improvements to energy, waste treatment and transmission line facilities.
According to the information shared by Fekete those federal programs provide grants and loan guarantees to small businesses for many different purposes. They include energy efficiency improvements, renewable energy projects, working capital as well as value added projects for agricultural producers such as enhancing a basic crop like grapes and turning them into wine or jelly.
Other beneficiaries of USDA programs are individuals and families through housing loans and grants and public bodies and non-profits.
Fekete, who said she has worked with USDA on the programs she was describing for 39 years, highlighted benefits of several specific USDA programs that aim to further “rural development.” Per Fekete, for the purposes of these programs “rural” is defined as a municipality with a population of under 20,000 residents as determined by the 2010 U.S. census, the latest one available.
The first USDA program Fekete talked about is its Rural Housing Service that provides for low income and elderly housing; help developers to construct apartments; and rental assistance for tenants.
Another program that Fekete highlighted was the Community Facilities Program that provides for direct loans, guaranteed loans of 80 percent of the amount borrowed and fire and rescue loans and grants.
Participants in the briefing were interested in how these programs could benefit their own business operations. Fekete noted that under the USDA’s Business and Industry Loan Guarantees program applicants can access capital as well as funding to purchase real estate, buildings, equipment, and supplies. Other business support includes provision of job training and counseling about entrepreneurial skills that can help to start or expand a business.
USDA programs frequently leverage the resources of the federal government with those of other public and private credit source lenders to meet business and other financing needs in under-served areas. The funding is intended to help improve the quality of life in rural communities by enhancing sustainable economic opportunities.
For information, Fekete, who works out of the USDA Rural Development office in Mt. Laurel, can be reached at 856-787-7771 or email: eVictoria.Fekete@nj.usda.gov.
To contact Camille Sailer, email csailer@cmcherald.com.
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