Officials with the Albert Lea Economic Development Agency and Greater Jobs Inc. announced Friday they received a $75,000 United States Department of Agriculture grant that will be used to develop a loan program for small and emerging businesses in Freeborn County.

The grant, which is part of the USDA’s Rural Business Enterprise Grant program, is administered by Rural Development.

It is one of 49 Rural Business Enterprise grants totaling $4.7 million, announced this week by USDA Under Secretary Dallas Tonsager of Rural Development. The grants are part of disaster relief funding that will assist rural communities in 14 states.

Freeborn County qualified for this because it was one of six counties in Minnesota to receive a disaster declaration from former President George W. Bush last summer due to flooding.

“It was a good opportunity for us,” Dorman said.

To qualify for the loan funds, a business must be located in an area with less than 50,000 people, must be an emerging private business with 50 or fewer employees and must have less than $1 million in projected gross revenues, said Adam Czech, USDA public affairs officer.

The loan money can be used to acquire land, for construction, for modernizations of buildings, for equipment, for operating costs, for technical assistance, for financial assistance and for distance learning, Czech said.

“This grant will have a positive impact on our efforts to help create jobs and expand the tax base in Freeborn County,” ALEDA Board President Ellen Kehr said. “It gives ALEDA another tool to assist local entrepreneurs.”

The revolving loan program will be administered by the board of the Albert Lea Business Development Center, which is part of ALEDA.

“This is great news,” ALBDC board Chairman Dick Kary said. “Our existing funds are loaned out, and these dollars will allow us to help more people as they start or expand their business in the region.”

The ALEDA office can be contacted by phone at 373-3930 or online at www.growalbertlea.com.