Editorial: Loan programs offer business boostsSen. Amy Klobuchar was in Worthington Tuesday morning, stopping at this community’s GuidePoint pharmacy to tout the benefits of a U.S. Department of Agriculture revolving loan program that helped the business complete its 2010 relocation
By: Daily Globe, Worthington Daily Globe
Sen. Amy Klobuchar was in Worthington Tuesday morning, stopping at this community’s GuidePoint pharmacy to tout the benefits of a U.S. Department of Agriculture revolving loan program that helped the business complete its 2010 relocation.
A week earlier, the acting administrator of the USDA’s Rural Development program visited Worthington, touring three businesses that utilized its revolving loan program to complete expansions. John Padalino went to Ron’s Repair, the I-90 Truck Wash (Smith Trucking) and the Nobles County Developmental Achievement Center to see firsthand what the loan funds made possible.
While Klobuchar noted that the program that assisted GuidePoint was different than the one Padalino checked up on last week — the GuidePoint revolving loan involved matching dollars from the federal government and Worthington Rural Economic Development Corp. (WREDC) — it’s nevertheless gratifying to see that federal legislators and employees are looking out for southwest Minnesota’s best interests.
Starting and growing a business, after all, isn’t easy. And, while there are any number of programs out there to assist entrepreneurs, sometimes more than a little help is needed in knowing how to move forward. That’s where agencies such as WREDC and Prairieland Economic Development Corp., which offers revolving loan funds to businesses in 27 Minnesota counties, can help. Of course, it also helps when Washington keeps the money coming.