Local

College awarded business development grant

Wednesday, September 3, 2008 1:13 AM CDT

NEEDLES - Palo Verde College's Small Business Economic Development Center has been awarded a $93,300 Rural Business Enterprise Grant by the U.S. Agriculture Department.

The funds will replenish the SBEDC's micro-revolving loan fund.

SBEDC micro-revolving loans are designed to expand employment. They are used for start-up businesses or existing businesses that wish to expand their product line. The loans are typically in the $5,000 to $10,000 range and are for a maximum of five years at 8 percent interest.

Applications may submitted with a business plan detailing the proposal to Palo Verde College SBEDC, 145 N. Spring Street, Blythe, CA 92225.

For more information, call 760-921-3804.

The grant was one of 25 successful applications from rural communities.