USDA and Local Lenders Partner for Business Development - KFYRTV.COM - Bismarck, ND - News, Weather, Sports

USDA and Local Lenders Partner for Business Development

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Two local companies received more than $2 million in loan guarantees to support business development. Great Plains Transport, Inc. in Mapleton received a $2,080,000 loan guarantee to construct a facility to serve as the transportation company's headquarters. And 4-J's Sports in Bottineau received a $44,000 loan guarantee to purchase equipment and inventory for a start-up sporting goods store.

"Without adequate capital many businesses would fail to reach their full potential," says Jasper Schneider, USDA Rural Development state director. "Through USDA's partnership with local lenders, today's recipients were able to secure financial support to expand their companies."

The financing was provided under the USDA Business and Industry program, which seeks to improve, develop, or finance businesses that diversify rural economies and increase employment opportunities.

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