Second Bedford County business benefits from new program
The Bedford County Development Association and JARI are pleased to announce that a second Microloan has been approved for a Bedford County business.
Manor Meadows Farm, a Land of Lakes approved dairy farm, recently received funding for the acquisition of additional dairy cattle. The farm, owned and operated by Kenneth Stanton, is expanding its herd to increase production.
Stanton began his dairy operation approximately five years ago when his parents deeded him a piece of property in Everett.
“This process was a walk-in-the-park and I appreciate BCDA’s assistance in referring me to the Microloan Program,” Stanton said.
In addition to funding, the program offers technical assistance and will provide experienced business coaching throughout the term of the loan.
“Since this new program opened a few months ago, we’ve already seen much interest. It’s an excellent program that fills an important niche,” noted Doug Gerber, BCDA Chair.
The Microloan program, funded by the U.S. Small Business Administration, can be used for equipment, inventory, working capital and a variety of other purposes. Companies can receive up to $50,000. The loan term will vary based on the use of the money. The interest rate is based on the company’s financial condition and credit rating.
For more information contact:
Bette Slayton, President
Bedford County Development Association
P: (814) 623-4816