USDA, SBA, and FDIC Partner to Foster Economic Growth for Small Businesses and Farmers in Mid-Atlantic

DOVER, Del., Oct. 24, 2023 – The U.S. Department of Agriculture (USDA), in partnership with the Small Business Administration (SBA) and the Federal Depository Insurance Corporation (FDIC), is hosting an economic development workshop on the “Path to Prosperity” on Wednesday, Nov. 1, in Bridgeville, Delaware, to provide small businesses, including farmers, with the resources and tools they need to grow.

“We are excited about the opportunity for small businesses and farmers across the region to become better informed, and connected to the technical and financial resources NRCS and others offer to sustain and expand their business,” said Leon Tillman, NRCS Acting State Conservationist in Delaware

The workshop will include panel discussions comprised of economic and lending experts, community partners and stakeholders, and broadband experts who will identify challenges, share best practices, and innovative solutions to accessing capital, and contracting opportunities.

“I am pleased that USDA Rural Development can provide financial assistance to small businesses in rural Delaware and Maryland, helping them to thrive and succeed,” said David Baker, State Director for USDA Rural Development in Delaware and Maryland. “Our programs are geared towards businesses at nearly every level, and include guaranteed loans, grants for renewable energy, energy efficiency, technical assistance, and more. This is a wonderful opportunity to share information and help businesses explore programs that can help put them on the path to prosperity.”

Presenters will discuss how financial institutions, non-profits, public and private sectors, and community-based organizations encourage the development of a “Path to Prosperity” by:

• Incentivizing unbanked and under-banked small business owners and individuals to establish a sustainable relationship with an insured financial institution;
• Expanding technical assistance and financial education for small business owners and individuals to improve their bankability;
• Increasing the number of SBA certified lenders to provide access to capital for small, minority, and urban/rural underserved businesses; and
• Developing contracting relationships with Federal government and private industry partners.

“Agriculture and small businesses are a driving force behind Delaware’s economy,” said Robin Talley, State Executive Director for USDA Farm Service Agency in Delaware. “Farm Service Agency supports farm businesses by delivering direct and guaranteed loans, as well programs that help farmers recover from disasters, conserve natural resources, and work through market downturns. We are excited to highlight these and other USDA opportunities to assist farmers on their path to prosperity.”

The event is scheduled for Wednesday, Nov. 1, 2023, from 10:00 a.m. until 5:00 p.m., at the Bridgeville Public Library, 600 South Cannon St., in Bridgeville, Delaware.  All participants must register to attend either “In Person” or “Virtually.” To register for the event, please visit www.zoomgov.com/webinar/register/WN_X_7__CCYQvOLoZ4-ygYQeQ#/registration.

This event is the 14th in a national series geared toward communities across America and U.S. territories that have traditionally not been afforded access to the same level of resources and economic development enjoyed by larger metro areas. The “Path to Prosperity” series provides Federal partners an opportunity to highlight their programs such as the FDIC’s “Money Smart Financial Education Program,” SBA’s Capital, Contracting, and Technical Assistance Programs and USDA’s loan, grants, and procurement opportunities.

USDA touches the lives of all Americans each day in so many positive ways.  In the Biden-Harris Administration, USDA is transforming America’s food system with a greater focus on more resilient local and regional food production, fairer markets for all producers, ensuring access to healthy and nutritious food in all communities, building new markets and streams of income for farmers and producers using climate smart food and forestry practices, making historic investments in infrastructure, and clean energy capabilities in rural America, and committing to equity across the Department by removing systemic barriers and building a workforce more representative of America.  To learn more, visit www.usda.gov.

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Delaware NRCS works with Delaware Conservation Districts in a partnership effort to address resource concerns on privately-owned agricultural and forest lands.

USDA is an equal opportunity provider, employer and lender.