Washington, D.C. — U.S. Rep. Bob Etheridge (D-Lillington) today announced that the Kerr-Tar Regional Council of Governments (COG) in Henderson, NC has been awarded $119,942 to expand rural and community development in Vance County.
The Kerr-Tar COG was among 43 recipients in 27 states who were selected to receive part of more than $4 million in grants.
“These loans mean jobs in our communities, and are lifesavers for local and rural businesses,” Etheridge said. “This announcement is good news for Vance County and puts USDA funds into communities that need them.”
The funding announced today is being is being provided USDA Rural Development’s Rural Business Enterprise Grant Program (RBEG), which helps finance new and existing businesses as well as employment-related adult education programs, and was authorized in the American Recovery and Reinvestment Act (ARRA). RBEG funds can be used for start-up and working capital loans, building and plant renovations, transportation improvements, project planning and other business needs.
Founded in 1973, the Kerr-Tar Council of Governments covers a 5-county area and provides a series of regional awareness, planning and administration programs which focus on aging, workforce development, at-risk youth, housing, economic development and rural transportation. Part of the economic development function of the COG includes a 23-year old revolving business loan fund.