United States Department of Agriculture Award
Yavapai Community College has received a $12,500 grant and a $50,000 loan from the Untied States Department of Agriculture. The grant and loan is intended to support rural economic development projects and create jobs. The awards came from the Rural Microentrepreneur Assistance Program and Intermediary Relending Program.
Any project the College undertakes using funds from this program must be spent in a rural area outside a city or town with a population of fewer than 50,000 residents. Funding may be used for working capital, debt refinancing and for purchasing equipment, supplies and real estate.
The $50,000 is loaned at 1% interest from local intermediaries that can re-lend to businesses in support of economic development projects. 
The Rural Microentrepreneur Assistance Program is a new program created by the 2008 Farm Bill. USDA administers the program, which will make grants to organizations that provide training, technical assistance or make small loans to new and existing rural small businesses. It may (a) Provide microloans for microenterprise startups and growth through a Rural Microloan Revolving Fund and (b) Provide training and technical assistance to microloan borrowers and micro entrepreneurs.
The Community College has yet to announce receipt of the grant and loan or indicate how it will be specifically used in Yavapai County.