ECDC Announces 1st Recipient of Small Business Development Loan Program
The City of Rushville recently assisted Gettinger Family Custom Meats, Inc. (GFCM) with a Small Business Loan Program loan for the purchase of refrigerators, meat cutting equipment and working capital. GFCM currently operates a custom processing plant and retail shop located approximately 7 miles outside city limits. The business currently does custom meat processing of beef, lamb and other animals. They sell retail meat over the counter at their current location. The loan will help GFCM open a retail business in the city limits of Rushville at 301 S. Main Street as location.
“It has been said that ‘An entrepreneur assumes the risk and is dedicated and committed to the success of whatever he or she undertakes,’” said Rushville Mayor Mike Pavey. “This business will be a wonderful asset to our downtown and help create local job opportunities for the residents of Rushville.” Pictured are Councilman Bob Bridges, Tyler Gettinger, Sam Gettinger, Lisa Gettinger, ECDC Chairman Terry Jobe, ECDC President John McCane, Mayor Pavey, and ECDC Client Services Manager Carolyn Bunzendahl. The new custom meat shop will be located at 301 South Main Street and a projected opening date of June 11, 2013.
The city and ECDC has additional funds available through the City of Rushville Small Business Development Loan Program which is funded by the United States Department of Agriculture, Rural Development, Rural Business Enterprise Grant program. The grant to the city is designed to provide loan assistance as an incentive for business expansion, job retention and creation, and private investment in rural areas of Indiana.
“Gettinger Family Custom Meats is a perfect fit for our community,” said ECDC President John McCane. “These funds are designated to help start-up businesses create jobs, and we want other people considering a new business in Rush County to know that we are here to help.”
The loan program is an Equal Opportunity Program, open it to all qualified businesses located or locating within the corporate limits of the City of Rushville. The goal of the program is to help local businesses obtain capital in an effort to create or retain jobs in the City of Rushville. A qualified business is one that meets the definition of “small and emerging private business enterprises” defined as “any private business that will employ 50 or fewer new employees and has less than $1 million in projected gross revenues annually.” At least 51 percent of the outstanding interest in the applicant business must be owned by those who are either citizens of the United States or reside in the United States after being legally admitted for permanent residence.
The ECDC also has a revolving loan program for those interested outside the City of Rushville.
Please call the Rushville Community and Economic Development Corporation at 765-938-3232 assistance, additional information, and to answer any questions regarding this funding.