Omaha Public Radio News
2:01 pm
Fri August 6, 2010

Nebraska, Iowa get USDA funding for small business loans

Omaha, NE – More than $30 million dollars in economic stimulus money is coming to Nebraska and Iowa for small business loans.

The loans are through the USDA. They're designed to help small businesses retain workers and expand their operations. Agriculture Secretary Tom Vilsack announced the loans Friday. "These resources are allowing people to refinance, in some cases to build new facilities, which obviously are construction jobs, which are good paying jobs, they're loans that cover the whole spectrum of the kinds of businesses," Vilsack says.

$8.8 million dollars is coming to Nebraska for loans to two agribusinesses. Iowa received more than $22 million dollars for six projects.

Nationwide, the $413 million dollars in loans will go to 128 businesses.