Tipton County Chamber Foundation Awarded $99,000 Grant from USDA

The Tipton County Chamber Foundation has been awarded a grant to launch a small business revolving loan fund and provide technical assistance

TIPTON (June 28, 2022) — The Tipton County Chamber of Commerce and Tipton County Chamber Foundation were awarded a $99,000 grant from the USDA’s Rural Business Development Grant program. This grant will help the Tipton County Chamber Foundation to create a local small business revolving loan program to support local entrepreneurs who need assistance starting or growing their businesses.

“Since becoming the Executive Director of the Tipton County Chamber in September of 2020, I have taken special care to ensure all of our efforts were intentional and strategic to move this community forward,” stated Kegan Schmicker, Executive Director of the Tipton County Chamber. “There has been a shift at the state and federal levels to better support local entrepreneurship and we recognized that there was an unmet need for this type of support in Tipton County. Not only will small businesses create more new job opportunities, but they are also the ones providing support to our local non-profits, schools, sports leagues, etc.”

The USDA’s Rural Business Development Grant will need to be invested in Tipton County over a two year period and is a grant that can be reapplied for, once funding has been loaned. In addition to a loan program, the Tipton County Chamber Foundation will also be offering technical assistance funds to entrepreneurs who want to further their education to improve their marketability and/or success. For example, an aspiring entrepreneur could apply for funds to help subsidize the cost of an education program that will help them improve their success. This will help to reduce the financial burden while also encouraging the entrepreneur to pursue education opportunities.

“As I was networking with other chamber foundations in the state and looking for solutions to create a better support system for our local business leaders, I learned about this grant opportunity from the Carrol County Chamber & Fulton County Economic Development Corporation,” stated Kegan Schmicker. “Fulton County has been so successful, they have grown their revolving loan program to nearly $1 million dollars, which has offered tremendous opportunities to local entrepreneurs. My goal is to get our program on a similar trajectory and to support local entrepreneurship at an unprecedented level.”

More information about the USDA Rural Business Development Grant can be found on their website at https://www.rd.usda.gov/programs-services/business-programs/rural-business-development-grants. Be sure to watch the Tipton County Chamber of Commerce’s announcements for updates on this program.

ABOUT TIPTON COUNTY CHAMBER OF COMMERCE:

Tipton County Chamber of Commerce is a local non-profit championing leadership development, community marketing, advocacy, entrepreneurship, and workforce development. Our team is committed to building a prosperous Tipton County and looks forward to the exciting successes of our members. For more information, please visit www.tiptonchamber.org