Seedco Financial Services Becomes The First Organization In Alabama to Receive Funding Through Rural Microentrepreneur Assistance Program (RMAP)

Partnership Will Provide $250,000 for Loans and $62,500 for Business Services to Rural Entrepreneurs and Small Business Owners

Birmingham, AL (I-Newswire) May 14, 2012 - The Alabama office of Seedco Financial Services, Inc., a national Community Development Financial Institution (CDFI), announced that it has been selected by the United States Department of Agriculture (USDA) Rural Microentrepreneur Assistance Program (RMAP) to receive $250,000 to disburse as small business loans, and $62,500 for technical support programs to help small business owners learn critical business management skills.

As the first organization in Alabama to receive RMAP funding, Seedco Financial will be able to provide critically needed support to rural microentrepreneurs as a result of its selection by the USDA’s rural business development program. New funding through this program, in addition to Seedco Financial’s ongoing initiatives and partnerships in Alabama, will strengthen the local economy and create jobs throughout the region.

“Our goal is to help rural communities by giving small business owners more access to affordable loans and other financing that will allow them to succeed and expand,” said James H. Bason, President of Seedco Financial. “Small businesses are integral to rebuilding rural economies and we recognize that loan financing and business services will help increase business activity, stabilize of jobs, and grow employment opportunities.”

Seedco Financial has a successful track record of working with various local partners to provide services to low-income and economically distressed communities and to minority- and women-owned businesses that are challenged in today’s financial environment.

“I am pleased that Seedco Financial Services, Inc. has been chosen as a recipient of USDA’s Rural Microentrepreneur Assistance Program. Small businesses truly serve as the economic engine of our economy and will continue to be the driving force behind our nation’s economic recovery,” said U.S. Rep. Terri Sewell. “These funds will help provide rural small businesses with the essential capital needed to promote growth, create jobs, and aid in the development of our rural communities. I look forward to continuing to work with Seedco Financial, USDA, and other local partners throughout the State of Alabama to ensure that rural businesses are given every opportunity to thrive.”


About Seedco Financial
Seedco Financial Services, Inc. (Seedco Financial) is a national Community Development Financial Institution (CDFI) with more than $200 million in assets under management. Seedco Financial seeks to stimulate economic development in communities that are underserved by traditional banking institutions by providing affordable capital, hands-on technical assistance, and innovative solutions to small businesses, nonprofit organizations, CDFIs, and real estate developers. Seedco Financial is a wholly controlled subsidiary of Structured Employment Economic Development Corporation (Seedco), a national nonprofit that works to advance economic opportunity for people, businesses, and communities in need. Learn more about Seedco Financial at www.seedcofinancial.org.

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Jason Morley
Stanton Public Relations & Marketing
JMorley@StantonPRM.com
(646) 502-3570