Agriculture Secretary Mike Johanns has announced the selection of 16 loan and grant recipients in 10 states that will receive $6 million in rural business development funds. The loans and grants will support economic and community development and assist in the creation or saving of over 1,000 rural jobs as part of the Bush Administration's ongoing efforts to spur economic development in rural areas.



The grants and loans are awarded through USDA Rural Development to electric and telecommunications cooperative organizations, which in turn provide loans and grants to support local economic or community development efforts.



Funding of selected applicants will be contingent upon meeting the conditions of the loan and/or grant agreement. A complete list of selected recipients can be found at http://www.rurdev.usda.gov.



Source: Government Release