For Subscribers

Money Buzz 03/05

Financing for rural entrepreneurs, increasing wages and more

By Jennifer Pellet • Mar 1, 2005

Opinions expressed by Entrepreneur contributors are their own.

Love of Country

Entrepreneurs in rural regions may soon have a shot at a fundingwindfall. The Rural Business Investment Program (RBIP), a jointeffort of the Department of Agriculture and the SBA, seeks to makeavailable $60 million for equity investing and $3 million ingrant-funded technical assistance for businesses in small, ruralcommunities.

Under the program and the current available funding, the SBAanticipates licensing up to three VC firms as Rural BusinessInvestment Companies (RBICs) this year. Each RBIC selected willthen have up to 12 months to secure $10 million in privatefinancing, after which each is eligible to receive a commitment forup to $20 million in leverage through the RBIP. Upon licensing, anRBIC is entitled to a $1 million Operational Assistance Grant,explains the SBA's Dennis Byrne.

Continue reading this article — and all of our other premium content with Entrepreneur+

For just $5, you can get unlimited access to all Entrepreneur’s premium content. You’ll find:

  • Digestible insight on how to be a better entrepreneur and leader
  • Lessons for starting and growing a business from our expert network of CEOs and founders
  • Meaningful content to help you make sharper decisions
  • Business and life hacks to help you stay ahead of the curve

Related Topics

Editor's Pick

Have More Responsibilities at Work, But No Pay Bump? Use This Script to Get the Raise You Deserve.
Black and Asian Founders Face Opposition at All Levels — Here's Why That Has to Change
Business News

Frontier Airlines Just Announced Its All-You-Can-Fly Summer Pass for $399. What's the Catch?

As travel begins to pick up, the airline hopes unlimited travel will jumpstart its business.

Business Plans

How Startups and Investors Can Thrive in the Current Economic Environment

Despite the bad news in today's economic environment, startups must refine their business strategy, and VCs must take advantage of less competition to invest.


How to Be An Accountable Leader During an Age of Layoffs

If you are a leader, you eat last. Here's how to lead by example during economic uncertainty.

Growing a Business

6 Ways to Continually Grow Your Business Without Going Insane

This guide will help you create a successful, sustainable business that will provide long-term growth and profitability. Discover how you can take your business to the next level by reading on.