Business Assistance News

Record-Breaking Amount of Loans Placed

The REAP loan program had a record-breaking year from July 1, 2010 to June 30, 2011. We placed 69 loans totaling $1,004,200. Historically, REAP loans total $6,899,946.

REAP Staff Growing New Partnerships

REAP was started by the Center for Rural Affairs in 1990 to meet the needs of the self-employed in the rural Midwest. A Center study in the late 1980’s demonstrated a high rate of self-employment in rural areas, but no economic development strategies to help this sector. REAP was a leader then and continues to be.

New Initiatives and Organizing

Last year, we added a Spanish language option to the REAP Online Lending System. Our maximum loan amount increased to $50,000, the Rapid Loan to $10,000, and the definition of micro services rose to include businesses with 10 or fewer employees.

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