The USDA has awarded the Rural Nevada Development Corp., another $1 million to loan to businesses in the state.
Corporation Executive Officer Mary Kerner said they are excited to be able to loan more money to the state’s rural businesses. The program loan is for 30 years at 1 percent interest and will re-capitalize the RNDC’s loan authority.
This brings the total USDA has invested in the enterprise lending program to $6.75 million since 1993.
RNDC is headquartered in Ely but recently added an office in Elko to expand business services along the I-80 corridor.