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New loans available to farmers and rural businesses>


State launches program designed to boost processing, marketing, energy efficiency
by Chuck Jones

Farmers and other rural businesses throughout the state now have more available capital through the Maryland Agricultural and Resource-Based Industry Development Corp., or Marbidco, and the state.
The low-interest loans are designed to help farmers and rural business owners with entrepreneurial or innovative business activities, said Jamie Epperson, Marbidco’s business manager.
Examples of such innovative activities include on-site farm food processing, niche product development and marketing, smaller scale secondary wood products manufacturing, and business-related technology enhancements, especially those that promote energy efficiency, she said.

‘‘The idea is to fund innovative business practices,” Epperson said. ‘‘There are different types of loans for different types of activities.” Some interest rates will be as low as 2 percent, she said.

‘‘The purpose of the loans is to help the agribusiness focus on value-added practices,” said Steve McHenry, Marbidco’s executive director. ‘‘We want to help young farmers bring innovation to the business of farming.”
Source:
http://www.gazette.net/stories/051607/busimlo220813_32335.shtml

 
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