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 Business Lending and Development Services... we can help get your dreams started!Business Lending and Development Services Department: (270) 251-6117 Email: bizloans@purchaseadd.org
Who are we:
The PADD operates a Business Lending and Development Services Department to assist businesses and industries within the eight-county area in obtaining public-sector financing and to provide technical assistance for industrial expansions and/or entrepreneurial business development. The department serves as an intermediary between the small business owner and the public sector financing programs.
What we do:
The Business Lending and Development Services Department provides technical assistance and (direct) loans to eligible businesses through federally funded financing programs. The PADD also provides loan packaging assistance for other federal, state, and local programs when a business is either ineligible for a direct loan through the PADD or when it is determined to be in the best interest of the borrower. The PADD primarily utilizes public-sector-financing programs to stimulate growth and development to aid in the creation or retention of permanent jobs in the rural communities of west
The PADD is giving you access to programs from:
The Federal Equal Credit Opportunity Act
prohibits creditors from discriminating against credit applicants on the basis
of race, color, religion, national origin, sex, marital status or age (provided
that the applicant has the capacity to enter into a binding contract); because
all or part of the applicant's income derives from any public assistance
program, or because the applicant has in good faith exercised any right under
the Consumer Credit Protection Act. The Federal agency that administers
compliance with this law concerning this creditor is the Federal Trade
Commission, Equal Credit Opportunity, Program Accomplishments:
For more information or an appointment, please call the department telephone number 270/251-6117 or send an email to bizloans@purchaseadd.org.
News and Press Announcements:
08/27/2008 - USDA News Release No. 0219.08 USDA AWARDS $35 MILLION FOR RENEWABLE ENERGY AND ENERGY
EFFICIENCY PROJECTS Funding will help 639 small businesses and farmers save
energy, improve operations " The grants and loan guarantees are being awarded through USDA Rural
Development's Section 9006 Renewable Energy Systems and Energy Efficiency
Improvements program. The program provides financial assistance to agricultural
producers and rural small businesses to support renewable energy projects
across a wide range of technologies encompassing biomass (including anaerobic
digesters), geothermal, hydrogen, solar and wind energy. It also provides
support for energy efficiency improvements, helping recipients reduce energy
consumption and improve operations. Of the $35 million announced today, $27.5
million are grants and $7.4 million are guaranteed loans. The funding will support a variety of energy-production and energy-saving efforts. In total, Kentucky submitted 15 applications to USDA, of which 5 received approval through the national office in Washington D.C. ... while 4 of the 5 applications approved, were prepared and submitted through the Purchase Area Development District. The PADD congratulates the 4 applicants who will use the grant funds to finance energy efficiency improvements to their poultry operations, located in Graves County. Funding of individual recipients is contingent upon their meeting
the conditions of the award agreement. For a complete list of recipients go to:
USDA Rural Development's mission is to increase economic
opportunity and improve the quality of life for rural residents. Rural
Development has invested more than $90 billion since 2001 for equity and
technical assistance to finance and foster growth in homeownership, business
development, and critical community and technology infrastructure. More than
1.7 million jobs have been created or saved through these investments. Further
information on rural programs is available at a local USDA Rural Development
office or by visiting USDA Rural Development's website at: http://www.rurdev.usda.gov.
06/18/2008 - Whitfield Announces $199,000 Award for Purchase
Area Development District
“In the midst of an energy crunch, I am pleased
that the Purchase Area Development District has been awarded these funds to
help farmers and rural small businesses reduce energy costs and consumption,”
Whitfield said. “This grant will also help stimulate the western The funds were awarded as part of the Renewable
Energy Systems and Energy Efficiency Improvements program, which funds grants
and loan guarantees to agricultural producers and rural small businesses for
assistance with purchasing renewable energy systems and making energy efficiency
improvements. The award will be used to provide technical assistance to
profit-oriented small businesses and agricultural-related businesses located in
western
The Purchase Area Development District is a
partnership organization that offers support to city and county governments in
the 8-county region of Ballard, Calloway, Carlisle, |
