SHAHEEN HIGHLIGHTS IMPORTANCE OF RURAL DEVELOPMENT INVESTMENTS AT GRAND OPENING OF HAYSEED RESTAURANT
Shaheen joined local, state and federal officials to announce Coastal Economic Development Corporation loan supporting small business and job creationMarch 16, 2015
(HAMPTON, NH) – U.S. Senator Jeanne Shaheen (D-NH) today highlighted the importance of federal efforts to help New Hampshire small businesses grow and create jobs in rural Granite State communities at the grand opening of the Hayseed Restaurant at Smuttynose Brewing Company in Hampton. At the grand opening, Shaheen and United States Department of Agriculture (USDA) Rural Development State Director Ted Brady announced a new $500,000 loan to the Coastal Economic Development Corporation (CEDC) to help small businesses like Smuttynose Brewery’s Hayseed Restaurant create jobs and stimulate investment in rural New Hampshire communities.
“Local small businesses like Hayseed Restaurant are an important part of New Hampshire’s economy and are engines for growth in rural areas, and we need to do everything we can to support their creation and success,” Shaheen said. “USDA programs are making a real difference in New Hampshire by helping small businesses and local agricultural businesses across our state get their start and ultimately put people to work. I hope to see more of these kinds of investments across the state.”
Hayseed Restaurant, which employs 25 people and uses ingredients sourced from partner Seacoast farms and fisheries and on-site gardens, received an Intermediary Relending Program (IRP) loan through USDA Rural Development that helped Smuttynose purchase equipment for the new restaurant. The $500,000 CEDC loan awarded today through USDA Rural Development will help additional small businesses like Smuttynose Brewery’s Hayseed Restaurant create jobs and stimulate investment in rural New Hampshire communities. The Rural Development funds will be used to provide low-interest loans to the non-profit CEDC to then relend the money to small businesses and community developments in the Coastal region. The new loan fund is expect to create 25 new jobs and retain an additional 25 New Hampshire jobs.
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