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Community Ventures receives $51,000 grant from USDA to provide support to rural small businesses

Community Ventures (CV) continues to serve Kentucky’s rural small businesses through an uncertain economic climate, thanks in part to the United States Department of Agriculture (USDA) and its Rural Microentrepreneur Assistance Program (RMAP).

CV will receive an additional $51,000 in grant dollars to provide business training and technical assistance to rural microborrowers and prospective microborrowers. The organization anticipates that these funds will provide an additional lifeline of support to businesses negatively impacted by COVID-19.

The funds will be available to businesses located in rural areas of Kentucky. Businesses targeted will have no more than ten full time employees, and looking for $50,000 or less in business capital, along with technical assistance and training. Eligible businesses include Kentucky’s agricultural producers in these designated areas. CV provides direct business training through its Business Development Specialists, who have helped more than 7,500 entrepreneurs start or expand businesses that have supported the creation of more than 14,000 jobs over the years.

Since the onset of the pandemic, CV has continued to support businesses by offering business training and technical assistance, reviewing applications for COVID relief dollars, and working with clients to develop new ways to reach their customers in a safe and healthy way.

“USDA has long demonstrated its commitment to supporting Kentucky business owners through their funding of various business training programs. Their latest round of funding is particularly important because of the timing. Kentucky small businesses are facing one of their toughest years yet, as they try to navigate the challenges presented by COVID-19,” says Brenda Weaver, CV’s President of Housing & Lending. “The bottom line – the USDA RMAP dollars are an additional resources to help more Kentucky small business owners, at a time when they need it most.”

Interested business owners and entrepreneurs looking for a business loan can call Community Ventures at (859) 231-0054 to speak with a Business Development Specialist.

From Community Ventures

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