Seven Idaho companies receive USDA loans to help expand services, create jobs
U.S. Department of Agriculture Secretary Tom Vilsack announced Tuesday that the department has allocated $981 million for 242 projects to help create new and improved market opportunities and expanded essential services for rural communities and businesses across the country, according to a press release. Seven of those projects are located in Idaho.
The funding will help keep resources and wealth in rural communities through affordable financing and technical assistance, allowing rural businesses to begin and expand, the release said. It will also open the door to new economic opportunities for communities and people who historically have lacked access to critical resources and financing.
“Rural people provide the everyday essentials our country depends on,” Vilsack said in the release. “The partnerships we’re announcing today demonstrate USDA’s commitment to advocating for rural business owners and building brighter futures for everyone in rural America.”
Loans awarded to Idaho companies
Company: Arsiero Air, based in Idaho Falls
Loan amount: $4.49 million
Description: The loan will be used to help purchase a helicopter to expand Arsiero Air’s timber harvesting operations. The recipient will be the owner/operator of a K-1200 heavy lifting helicopter. The project will create 18 new jobs and play a critical role in allowing the recipient to access timber in otherwise inaccessible locations, allowing completion of existing and new timber harvesting contracts.
Company: Dempsey Creek Inc., based in Lava Hot Springs
Loan amount: $636,885
Description: This loan will be used to purchase equipment and complete renovation of an existing restaurant facility. The recipient will be the owner/operator of a brewery and bistro restaurant located in Lava Hot Springs. The project will increase tourist dining options and create 18 jobs. The project will support value-added agriculture and provide a market for locally produced agricultural food products, produce a natural value-added product, and provide an additional market for existing local businesses.
Company: Lohman Helicopter LLC, based in Lewiston
Loan amount: $1.52 million
Description: This loan will be used to finance the purchase of a leased-option helicopter. Lohman Helicopter provides utility helicopter services specializing in aerial firefighting and overhead power line construction. The project is expected to create two jobs and meets a climate goal of reducing pollution and increasing resilience to the impacts of climate change through economic support to rural communities.
Company: Martin’s Feed Inc., based in Payette
Loan amount: $1.14 million
Description: This loan will be used to purchase a commercial building. The borrower will conduct expanded operations such as transportation vehicle storage, maintenance and repair, and limited driver overnight accommodations, creating a minimum of five jobs. The recipient’s business (transportation and warehousing) distributes agricultural food products.
Company: TroutHunter LLC, based in Island Park
Loan amount: $3.2 million
Description: This loan will be used to purchase commercial real estate currently leased by the borrower, as well as buy-out of partial owner of the overall business. The borrower will be the owner/operator of the TroutHunter Lodge, who will provide additional services to an area with limited services available. The project is expected to create 10 jobs.
Company: Weiser Onion Produce LLC, based in Weiser
Loan amount: $1.89 million
Description: This loan will be used to purchase commercial real estate for an onion packing and bagging facility, which plays a critical role in providing a service and market to various agricultural producers in the area and will ensure continuity of services to local producers. The borrower will also expand facility operations, creating 10 new jobs and supporting 24 existing jobs.
Company: Clearwater Economic Development Association Inc., based in North Idaho
Loan amount: $73,794
Description: This loan will be used to provide technical assistance and guidance to prepare microentrepreneurs for self-employment, improve the state of existing rural microenterprises, increase the capacity of specific technical aspects of businesses and assist entrepreneurs with educational pursuits