USDA awards $1 million to Community Ventures

The United States Department of Agriculture’s (USDA) Rural Development awarded funds to create or retain jobs in Kentucky’s 21 Delta counties through Community Ventures’ (CV) revolving loan fund, offering below-market rates for business expansion loans to eligible, rural companies.

Businesses located in Western Kentucky’s Mississippi Delta region including Ballard, Caldwell, Calloway, Carlisle, Christian, Crittenden, Fulton, Graves, Henderson, Hickman, Hopkins, Livingston, Lyon, Marshall, McCracken, McLean, Muhlenberg, Todd, Trigg, Union, and Webster Counties may apply with CV for loans ranging from $50,000 – $400,000.

Since 2007, previous funding awards from USDA Rural Development have allowed Community Ventures to assist 317 businesses in the Delta region, creating 218 jobs. A few businesses who have been helped recently by this funding include Buttercup Bistro, Main Street Sweets, Double G Properties LLC, and MDH Funeral and Cremation Services.

“Businesses are the heartbeat of Kentucky’s economy; they create and retain jobs that put food on the table and this funding from the USDA will allow rural companies to grow or continue to employ Kentuckians in 21 counties in our Delta region,” said Brenda Weaver, Community Ventures President of Lending and Western Kentucky Disaster Recovery. “We are grateful to the USDA for partnering with Community Ventures yet again in our efforts to support Kentucky businesses.”

This latest USDA Rural Development award to Lexington-based CV is $1 million.

“Job creation and retention is a crucial part of our USDA Rural Business-Cooperative Service’s mission, and this project will play an important role in creating and retaining jobs in rural Kentucky,” said Dr. Tom Carew, USDA Rural Development Kentucky state director. “During the Biden-Harris administration, USDA Rural Development-funded projects have created and saved tens of thousands of jobs in rural Kentucky. That wouldn’t be possible without great partnerships, like the one we have with Community Ventures.

For more information on the USDA, go to usda.gov .

You can learn more about Community Ventures business expansion loans at cvky.org/businesses .

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