Areas Served: Choctaw and western McCurtain Counties.
The purpose of the USDA Intermediary Relending Program (IRP) is to alleviate poverty and increase economic activity and employment in the Oklahoma rural counties of Choctaw and western McCurtain.
Under the IRP program, loans are provided to local organizations (intermediaries) for the establishment of revolving loan funds.
The rural businesses targeted for IRP financing are: – Small manufacturing companies.
– Manufacturing related services.
– Developing services that have a uniqueness or technology that will add value to the District’s economy.
– Other businesses that may help a community improve its development potential.
Generally, retail businesses are not eligible.
Funds can be used to: – Purchase land & buildings – Construct new buildings or renovate/modify existing buildings – Purchase machinery & equipment – Provide for permanent working capital The maximum loan amount is $150,000 and cannot exceed $15,000 per full time job created.
Contact InformationLittle Dixie Community Action Agency, Inc.
Address: 502 West Duke St.
City: Hugo
State: Oklahoma
Website:
http://www.littledixie.org/ldcaaeconomicdevelopment.html
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