WASHINGTON- Senator Chuck Grassley today said that the U.S. Department of Agriculture, Office of Rural Development has awarded loans totaling $728,219 to Iowa through the Intermediary Relending Program.
"This money will help create jobs and stimulate economic growth in Iowa's rural communities," Grassley said.
The Intermediary Lending Program provides loans to community-based development or regional planning groups that then re-lend the money to local businesses to create or retain jobs by starting or expanding businesses.
The grant funds from the Office of Rural Development will be distributed as shown below.
· $328,219 to the Grow Iowa Foundation in Greenfield.
· $400,000 to the Cresco Industrial Corporation in Cresco.