Rushville Republican

Business

November 29, 2013

Rush County ECDC aids local business

Small Business Development Loan Program

The Rush County Economic and Community Development Corporation recently assisted Carthage Mill, LLC with a Small Business Loan Program loan to assist them in opening a sustainable agriculture business incubator with a focus on rural development certified organic and natural food and feed processing services. A loan for $18,000 will be used to help finance the cost of upgrading to a certified organic all natural approved kitchen and packaging area for rent to famers/producers and equipment, purchase of an alternative energy pellet - heating unit as well as working capital. The Carthage Mill is located at 201 East 2nd Street in Carthage.

“The Carthage Mill business incubator will be an asset to the Rush County community and will not only facilitate new jobs and business opportunity, it will also be a regional hub for agribusiness efforts in Rush County. The ECDC is happy to support their efforts,” ECDC Executive Director John McCane said.

The Rush County Small Business Development Loan Program is funded by the United States Department of Agriculture, Rural Development, Rural Business Enterprise Grant repayments. The program is designed to provide loan assistance as an incentive for business expansion, job retention and creation, and private investment in rural areas of Indiana.

The loan program is an Equal Opportunity Program, open to all qualified businesses located or locating within Rush County. The goal of the program is to help local businesses obtain capital in an effort to create or retain jobs. A qualified business is one that meets the definition of “small and emerging private business enterprises” defined as “any private business that will employ 50 or fewer new employees and has less than $1 million in projected gross revenues annually.” At least 51 percent of the outstanding interest in the applicant business must be owned by those who are either citizens of the United States or reside in the United States after being legally admitted for permanent residence.

Please call the Rush County Community and Economic Development Corporation at 765-938-3232 for assistance, additional information, and to answer any questions regarding this funding. Visit them at www.rushecdc.org.

—Rushville Republican

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