Mesquite Regional Business, Inc., has been awarded a $50,000 grant from USDA Rural Development to create a Revolving Loan Fund for the Mesquite region, says MRBI President and CEO Gaye Stockman.
“The opportunity to provide funding assistance to businesses within the Mesquite region is a significant tool for our economic development growth,” Stockman said. “The funding will be used in participation with the business’s bank of choice in various scenarios, such as gap financing, loan participation, interest rate reduction, et cetera. Each project will be customized to meet the businesses’ need.”
MRBI has established a five-member Revolving Loan Fund Committee consisting of George Gault, MRBI Board President; Ivan Ketterman, CPA with Larson & Co.; Vicky Walter, President and CEO, Mesquite Chamber of Commerce; Dan Wright, Bank of Nevada and MRBI board member; and Stockman, who will serve as the committee’s non-voting administrator. She noted there is one vacancy remaining on the committee. Business owners interested in the loan program should contact MRBI and/or their local banking institution for more information.
“The grant funding will only be available to assist businesses in the Mesquite region,” Stockman added.