Cameron Business Awarded Part of $770-million in USDA Loan Funds

 

A Cameron business is among more than one hundred from across the nation that are sharing in more than $7790-million in USDA funding to help create new and better market opportunities.

The USDA is investing $770-million in 36 states and Puerto Rico. The investments include $640 million for 122 projects to help people living in socially vulnerable communities.

The funding will help rural America keep resources and wealth at home through job training, business expansion and technical assistance. It will help companies hire more workers and reach new customers, while opening the door to new economic opportunities for communities and people who historically have lacked access to critical resources and financing.

It will also help entrepreneurs and business cooperatives create jobs, grow businesses, and find new and better markets for the items they produce.

In our listening area, Chung Hospitality LLC in Cameron qualified for a $1,762,000 in Business and Industry Loan Guarantees. This investment will be used to refinance debt, make capital improvements, and upgrade facilities at their hotel in Cameron.

 

Full list of projects receiving funds – https://www.rd.usda.gov/sites/default/files/05.24.2022-New-And-Better-Markets-Chart.pdf