U.S. DEPARTMENT OF AGRICULTURE (USDA) RURAL DEVELOPMENT
Rural Business-Cooperative Service 375 Jackson Street, Suite 410 St. Paul, Minnesota 55101-1853 651-602-7791 Programs & Services -Business Programs Business & Industry Loan Guarantees
The U.S. Department of Agriculture is a federal agency that creates Rural Development Programs that encourage economic development in rural areas. USDA provides funding opportunities for rural small businesses through loans, loan guarantees, and grants. A list of USDA Rural Development Field offices can be found in the Government, Federal section of the Resource Directory of this Guide.
PUBLIC SOURCES OF FINANCING / TAX CREDITS – STATE PROGRAMS
Under State legislation (Minn. Stat. §§ 116J.993 to 116J.995), business receiving a “business subsidy” will be required, among other things, to enter into a “business subsidy agreement” that will include goals for wages and jobs to be offered and paid by that business. If those goals are not met within a certain period of time, in almost all cases the business will be required to repay the amount of the subsidy, plus interest.
MINNESOTA DEPARTMENT OF AGRICULTURE
Minnesota Department of Agriculture (MDA) 625 Robert Street N. St. Paul, MN 55155-2538 651-201-6000 | mda.info@state.mn.us Loan and Grant Programs The MDA provides many programs to assist farmers in improving and expanding their current operations. Agriculture Best Management Practices (BMP) Loan Program 651-201-6618 Water quality program that provides low-interest loans to farmers, rural landowners, and agriculture supply businesses. Aggie Bond Beginning Farmer Loan 651-201-6556 Offers affordable financing for a qualified beginning farmer.
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