RURAL ENTERPRISE Federal program gives grant to Columbiana Co.

Companies will compete for low-interest loans through this program.
By DAVID SKOLNICK
VINDICATOR POLITICS WRITER
YOUNGSTOWN -- The U.S. Department of Agriculture's Rural Business Enterprise Program awarded a $99,000 grant to help start and expand businesses in Columbiana County.
The program will be administered by the Mahoning Valley Economic Development Corp. as part of its revolving miniloan program for that county, said Don French, the agency's executive director.
The agency will review applications from companies for the money, and award low-interest loans on a competitive basis, he said.
"This adds some much-needed money to a loan program that helps grow small businesses in Columbiana County," French said. "We have banks that are involved with this program that also provide low-interest loans to small businesses. With this money, we'll be able to continue to provide low-interest loans to small businesses."
Putting funds to use
The program will provide money to assist business development and job creation in Columbiana County, said U.S. Sen. George Voinovich, who announced the grant award Tuesday.
"Small businesses are critical to job creation and innovation, and I am very pleased to see this help coming their way," Voinovich said. "Not only will it help them to survive some tough economic times, but it will also allow them to continue playing an important part of Ohio's rural communities."
The federal program provides grants to public bodies, private nonprofit corporations and federally recognized Indian tribe groups to finance and facilitate development of small and emerging private business enterprises in rural communities.
skolnick@vindy.com