MORGANTOWN, Dec. 07, 2022 – U.S. Department of Agriculture (USDA) Rural Development West Virginia State Director Ryan Thorn announced today that Woodlands Community Lenders in Elkins will receive $61,946 to provide financial and technical assistance to rural entrepreneurs and businesses in three West Virginia counties through the Rural Microentrepreneur Assistance Program.
“At USDA Rural Development we are advocates for, investors in, and partners to rural communities and the people, businesses, and organizations within those communities,” said USDA Rural Development West Virginia State Director Ryan Thorn. “I look forward to seeing the positive impact that this funding will have on rural businesses in these central West Virginia counties.”
The funding will allow the Woodlands Community Lenders to capitalize a Rural Microloan Revolving Fund to make microloans and provide technical assistance to rural microentrepreneurs and microenterprises in Randolph, Barbour, and Tucker counties. This will help keep resources and wealth made by rural West Virginians right at home through affordable financing and technical assistance. It will help rural West Virginians start businesses and allow small business owners to grow. It will also open the door to new economic opportunities for communities and people who historically have lacked access to critical resources and financing.