USDA Declares Partnership with McLarty Capital in Rural Investment
United States Department of Agriculture (USDA) announced on Thursday, the launch of a new private investment fund. Its potential will be utilized to inject $100 million into growth-oriented, small businesses across rural America. The McLarty Capital Partners (MCP) Rural Business Investment Company (RBIC) that USDA has helped to initiate for its fifth RIBC project since 2014. The resourcefulness and its active involvement is part of USDA's ongoing efforts to attract private sector to investment opportunities in rural America to help urge more economic growth of the communities in the remote.
According to Tom Vilsack, the agriculture secretary, innovative small businesses throughout rural areas in America need the same access to capital as their counterparts in business in the urban. MCP is significantly an ally to USDA' exerted efforts to reenergize and strengthen the economy in the remote.It will also help micro businesses to grow and drives local communities' growth.
"We are pleased to partner with USDA in this innovative public-private partnership to propel and sustain small business growth in rural America," said McLarty Capital Partners co-founder, Franklin McLarty.
He further reiterated that with roots in America's heartland, McLarty Capital Partners is dedicated to ensure that small and medium sized corporations have the vehicle to propel necessarily to achieve their business goals, and only through this endeavor it furthers that mission.
McLarty Capital Partners, founded in 2012 by co-presidents Franklin McLarty and Christopher Smith, provides flexible financing solutions to small and medium sized enterprises in the United States.
The new fund announced on Thursday was formed under the umbrella of the USDA's Rural Business Investment Program (RBIP). USDA utilized RBIP to license funds that invest in enterprises creating growth and job opportunities in rural areas. The emphasis of the partnership is mainly on smaller enterprises.
The Department has engaged its resources to support a strong next generation of farmers and ranchers by improving access to land and capital; building new markets and market opportunities; and extending new conservation opportunities.
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