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USDA to give $750,000 to Southern Financial Partners
Southern Financial Partners of Arkadelphia will receive $750,000 in loan funds from the U.S. Department of Agriculture Rural Development Intermediary Relending Program.
The money is part of nearly $5.7 million in revolving loan funds that the USDA is investing in nine business development organizations across the United States.
Business revolving loan funds are aimed at financing business facilities and community development projects in rural areas.
The USDA lends money to intermediaries who re-lend the funds locally to support businesses or community development.
Southern Financial Partners is a nonprofit affiliate of Southern Bancorp, a development bank-holding company committed to transforming rural economies.