Recently USDA Rural Development Administrator for Business and Cooperative Programs Judith Canales joined Small Business Administration (SBA) officials in Syracuse, New York, to discuss opportunities to promote rural small business investment and job creation. The rural investment roundtable event was held at Dairylea Cooperative, Inc.
As part of the Startup America Initiative, SBA recently announced the creation of a $1 billion Impact Investment Fund through its Small Business Investment Company (SBIC) Program. The Impact Fund will invest in distressed areas as well as in emerging sectors such as clean energy. SBA provides up to a 2 to1 match to private capital raised by this fund, partnering with private investors to target “impact” investments.
