PIERRE, (KCCR) — The Lake Francis Case Development Corporation has been granted a 54-thousand dollar revolving loan fund grant from the United States Department of Agriculture Rural Development. The funds will be utilized to help address community needs like housing and child care. Housing and child care aren’t the only areas that can use the money. The Lake Francis Case Development Corporation is looking to use some of the money to help retain businesses, business expansion and development. The Rural Development revolving loan fund program targets businesses with fewer than 50 new workers and less than a million dollars in gross revenue. The Revolving Loan Fund Grant encompasses two types of projects: Opportunity grants and Enterprise grants. Enterprise grants focus on initiatives that foster growth and development among small and emerging businesses in rural areas, supporting essential endeavors. Opportunity grants are designed to drive community economic development, technology-based economic development, and leadership and entrepreneur training, among other valuable endeavors.
