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Council authorizes application for USDA Rural Business Development Grant to seed revolving loan fund
Summary
The Rolla City Council authorized a JDA-led application for a USDA Rural Business Development Grant to establish a revolving loan fund and granted signing authority to the JDA director.
The Rolla Job Development Authority will apply for a USDA Rural Development Rural Business Development Grant to establish a revolving loan fund aimed at supporting local businesses. Rebekah Bryant presented the proposal and sought authorization to apply and the authority to sign grant documents on behalf of the city.
Council approved the application and granted Rebekah Bryant signing authority as Economic Development Director. The minutes do not specify requested grant amount, loan parameters, or timelines for awards; they record only the council’s authorization to apply.
The action signals municipal support for seed funding mechanisms to support small business financing, but the minutes do not include details about match requirements, loan underwriting standards, or projected beneficiaries.
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