First National Bank recently provided a $500,000 equity-equivalent investment to the Center for Rural Affairs. The investment will support micro and small business lending activities throughout rural communities in Nebraska via the Center’s lending arm, the Rural Investment Corporation.
The funds will be used to provide financing and technical assistance in support of community development, including small business startup, expansion and job creation. The funds will also be used to improve access to services and ownership opportunities, especially for low-income or otherwise disadvantaged individuals.
“The demand for small business financing in rural Nebraska is extremely high,” said Jeff Reynolds, Center for Rural Affairs Rural Enterprise Assistance Project director and Rural Investment Corporation chief operating officer. “We look forward to getting these critical small business loan dollars out to startup and existing businesses and continuing our mission of creating vibrant rural communities through small business development.”
Alec Gorynski, of First National Bank, said the investment reflects the bank’s commitment to strengthen the local economies in all the communities they serve.
“It is extremely important to us that rural communities continue to thrive and we believe they will through new and expanded businesses, an adequate job supply and access to a variety of local services,” he said.
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