USDA Rural Development Invests $3 Million to Expand Market Opportunities for Businesses and Entrepreneurs in Rural Minnesota

ST. PAUL, Minn., Dec., 14, 2022 – U.S. Department of Agriculture (USDA) State Director Colleen Landkamer today announced that the Department is investing $3 million to help create new and better market opportunities and expand essential services for rural people in Minnesota.

“Rural businesses, ag producers and entrepreneurs provide many of the everyday essentials we depend on,” Landkamer said. “The partnerships we’re announcing today demonstrate Minnesota Rural Development’s commitment to advocating for rural business owners and building brighter futures for everyone across Minnesota.”

The funding will help keep resources and wealth made by rural people right at home through affordable financing and technical assistance. It will help rural Minnesota residents start businesses and allow small business owners to grow. It will also open the door to new economic opportunities for communities and people who historically have lacked access to critical resources and financing.

For example:

This Rural Development loan of $3,115,00 will assist Mattheisen Properties and Do. Mats Inc., restructuring and refinancing by providing a lower fixed interest rate for faster repayment. Mattheisen Properties and Do. Mats Inc. is the co-borrowers in the rural community of Benson, Minnesota.

This Rural Development investment will provide a revolving loan fund of $36,986 to assist Renville-Sibley Cooperative Power to re-lend funds to the Scared Heart Fire Department. These funds will purchase a fire truck to help with fire protection and first responder medical care for residents in and around Sacred Heart, Minnesota.

Northeast Entrepreneur Fund Inc. in Northeast Minnesota, received $39,552 in funds that will provide a revolving loan along with technical assistance to entrepreneurs in rural Minnesota. Northeast Entrepreneur Fund Inc. is a business that stimulates the growth of successful businesses in rural Northeastern Minnesota. This project projects to create 43 employment opportunities and save 21 jobs.

Background:

These programs are the Biofuel Producer Relief Payments Program, Business, and Industry Loan Guarantees, Community Facilities, Guaranteed Loan Program, Rural Cooperative Development Grant Program, the Rural Economic Development Loan, and Grant Program, Rural Innovation Stronger Economy Grants program, the Rural Microentrepreneur Assistance Program, and the Water and Waste Disposal Loan Guarantees.

Rural Development provides loans and grants to help expand economic opportunities, create jobs, and improve the quality of life for millions of Americans in rural areas. This assistance supports infrastructure improvements, business development, housing, community facilities such as schools, public safety, and healthcare, and high-speed internet access in rural, tribal, and high-poverty areas.

For more information, visit www.rd.usda.gov/mn. To subscribe to USDA Rural Development updates, visit GovDelivery subscriber page.