Washington County nonprofit nabs $600K for economic development
The Machias-based nonprofit, the Sunrise County Economic Council, will be receiving $600,000 from the U.S. Department of Agriculture in the form of a $500,000 Rural Microentrepreneur Assistance Program Loan and a $100,000 grant to support rural economic development and job creation in Washington County.
The funds awarded to the Sunrise County Economic Council will be used to make microloans to rural microentrepreneurs and microenterprises and assist Washington County businesses seeking to grow, expand and create employment opportunities. It is estimated that 12 businesses will be assisted, 42 jobs retained and 12 jobs created, according to a release.
"This funding will help small businesses access capital that they would not have had otherwise, generating new economic activity in rural communities," USDA Rural Business-Cooperative Service Administrator Sam Rikkers said in a prepared statement.
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