Center for Rural Affairs achieves top 10 in national lending
Rhea Landholm, brand marketing and communications manager, firstname.lastname@example.org, 402.687.2100 ext 1025
Lyons, Neb. - Center for Rural Affairs’ small business development program ranked number nine in the United States for the number of Small Business Administration microloans placed in fiscal year 2016.
The program, Rural Enterprise Assistance Project, or REAP, provides lending, training, networking and technical assistance to startup and existing small businesses in Nebraska.
The ranking is done by the Small Business Administration Office of Economic Opportunity, and is announced at the close of the Small Business Administration’s fiscal year.
“Making the top 10 list is a testament to staff who believe in our mission and work extremely hard to meet the goals of the program,” said Jeff Reynolds, Rural Enterprise Assistance Project director. “Not many, if any, rural only programs make this list, but we do.”
Rural Enterprise Assistance Project staff closed 101 small business microloans for a total of $575,105 in 2016. For a list of all ranked lenders, see the Small Business Administration website.
“I am very proud of our staff and all they are doing to make a difference in rural Nebraska,” Reynolds said. “This is an incredible achievement. Onward and upward as we help entrepreneurs build small businesses and create vibrant small towns and rural communities.”
During the Center for Rural Affairs’ fiscal year 2016, Rural Enterprise Assistance Project staff placed 123 loans totaling $1,739,880 and provided 2,372 entrepreneurs with training and assistance. Loans up to $150,000 are provided through the lending programs.
More information about Rural Enterprise Assistance Project and its services can be found at www.cfra.org/reap. Center for Rural Affairs’ Rural Enterprise Assistance Project receives funding from the Small Business Administration (SBA Microloan Program and SBA Women’s Business Center), United States Department of Agriculture, Nebraska Business and Innovation Act through the Nebraska Department of Economic Development, United States Department of Treasury, Peter Kiewit Foundation and other sources. Rural Enterprise Assistance Project is funded in part through a cooperative agreement with the U.S. Small Business Administration. All Small Business Administration funded programs and services are extended to the public on a nondiscriminatory basis. This institution is an Equal Opportunity Provider and Employer.