U.S. Agriculture Secretary Tom Vilsack announced that 20 organizations in 15 states, including one in Williamsburg County, have been selected to receive $12.7 million in loans to spur economic development and create or save nearly 2,000 jobs.
Williamsburg County Development Corp. will receive $750,000 through the USDA Rural Development’s Intermediary Relending Program.
The funds are provided to community development or regional planning groups who then re-lend them to local businesses. Loans must be used to start new businesses, expand existing ones, or create or retain jobs.
Funding of individual recipients is contingent upon their meeting the terms of the loan agreement.
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