CHARLESTON, W.Va. (AP) - A $750,000 federal loan to a lender in Elkins, West Virginia will fund loans for small businesses in three north central counties.
The state’s U.S. senators announced Thursday that businesses in the counties of Barbour, Randolph and Tucker will be eligible.
The U.S. Department of Agriculture made the loan to Woodlands Community Lenders as part of its rural development investment program.
The “program has been a great source for innovation and revitalization in West Virginia, which has been essential as we recover from the economic damage caused by the COVID-19 pandemic,” Republican Sen. Shelley Moore Capito said in a news release.
Democratic Sen. Joe Manchin said he expected the loan to help economic growth. “Not only will this investment support small businesses, but it will also create and retain good-paying jobs in the Mountain State,” he said in a statement.
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