USDA Rural Development State Director Jane Asselta joined Atlantic County Improvement Authority Executive Director Tim Edmunds and key local stakeholders on Tuesday to announce a $500,000 funding award to support rural, small businesses in the area.
The award was funded through USDA Rural Development’s Intermediary Relending Program, which provides low-interest loans to local lenders or “intermediaries” that re-lend to businesses to improve economic conditions and create jobs in rural communities. In Atlantic County, the ACIA will support small businesses with microloans to drive growth and long-term sustainability.