As these programs are aimed at promoting job growth for certain de- pressed areas, at least 51 percent of your employees must reside in the target region. Venture capital is an outstand- ing resource for projects with high capital requirements and high potential profits. Several assistance programs are offered for businesses located in rural areas. This is a guaranteed loan program which pro- vides financial assistance to a variety of endeavors. Its aim is to assist projects that save existing jobs, improve existing business or industry, or contribute to the overall ec- onomic stability of rural areas.
Job creation is the key component of the program.
In addi- tion, FmHA offers limited direct loans through the Intermediary Lending Program. This program helps small businesses obtain financing, particularly in rural areas and those dealing with SBA's Local Development Corporations. Specific assistance is provi- ded in the form of packaging loan requests, and submittal of completed loan packages to appropriate lenders for consideration with or without federal or state agency guarantees.