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Adam Perlman and the staff of Ray Federal Credit Union.
(September 29, 2015—Phoenix, Arizona) Agriculture Secretary Tom Vilsack today awarded grants across the nation to help support the start-up or expansion of rural small businesses. Nine of the grants went to Arizona rural businesses, including one for $47,500 for Ray Federal Credit Union and another to the Copper Corridor Economic Development Coalition.
Ray Federal Credit Union will use the funds to establish a revolving loan fund for small and emerging businesses located in rural Pinal and Gila Counties, focused primarily on the communities in the Copper Corridor.
The Copper Corridor Economic Development Coalition will use its $28,000 Rural Business Development Grant to conduct and complete a variety of technical assistance activities that will promote tourism and broadband expansion in the Copper Corridor. That project is expected to create and/or retain 15 jobs.
“In areas where access to capital for local businesses can be hard to come by, USDA Rural Development is a valuable resource,” noted Ernie Wetherbee, Acting State Director for Rural Development following the announcement.
“The Copper Corridor and Rural Development have had a productive partnership for many years,” said USDA RD Business Program Director Gary Mack following the announcement, “The revolving loan program through Ray Federal Credit Union will help infuse much needed capital for small businesses in the community.”
Funding of each award announced today is contingent upon the recipient meeting the terms of the grant agreement.
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