Lisa Mensah
Agriculture Undersecretary for Rural Development Lisa Mensah today announced five awards to expand access to credit for rural businesses, particularly small businesses in poor and underserved areas.

“Helping rural businesses get access to investment capital is one of the most effective ways to help rural economies grow,” Mensah said in Winona, Miss., during her first trip since being confirmed as undersecretary.

“These loans will help businesses create jobs, expand their operations, invest in materials and equipment, and promote their success and growth,” she said.

USDA Rural Development is providing a total of $2.55 million in loans to five nonprofit groups through the Intermediary Relending Program (IRP), who can create revolving loan funds for businesses

The five IRP awardees are:

• Iowa — Newton Development Corporation, $200,000
• New Hampshire — Coastal Economic Development Corporation, $500,000
• Missouri — Missouri Agricultural and Small Business Development Authority, $500,000
• South Dakota — Four Bands Community Fund, $750,000
• Mississippi — North Central Planning and Development District $600,000

Mensah announced the awards during a meeting today with NCPDD Executive Director Steve Russell, Mississippi Rural Development State Director Trina George and other NCPDD officials.

Later in the day, she is scheduled to participate in a roundtable in Greenwood, Miss., hosted by the Delta Regional Authority and USDA Rural Development to discuss business, infrastructure and other community needs.

Before she arrived in Mississippi, Mensah visited several rural communities in Alabama earlier in the week.

▪ USDA Rural Development — Intermediate Relending Program