The Clayton County Development Group in Elkader has received a USDA grant.
The $30,000 grant is through the Rural Business Development Grants program and will replenish an existing revolving loan fund.
It will provide loans to small and emerging businesses. The project is expected to create twelve new jobs and save fourteen jobs with the initial round of funding. It will also help expand small businesses and promote rural economic development in Clayton County.
Theresa Greenfield, USDA Rural Development State Director in Iowa, announced the grant on Wednesday. Greenfield says the Agency is investing three-point-eight million dollars in eleven grants and 13-million dollars in three loans to projects in Iowa that spur economic development through rural cooperatives, promote small businesses, support infrastructure, assist with disasters and create jobs.
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