Green Hills Rural Development, Incorporated

Successful RDI projectThe Commission's development conduit, Green Hills Rural Development, Inc. is responsible for the administration of three revolving loan pools. The Revolving Loan Fund (RLF) was seeded by a grant from the Economic Development Administration, while the Intermediary Re-lending Program (IRP) was funded by the U.S. Department of Agriculture/Rural Development, and the Microenterprise loan pools was funded by a grant from the State of Missouri's Community Development Block Grant Program. All three loan pools are designed to assist with gap financing necessary for new business start-ups or existing business expansions. The distributions of the loan funds are governed by a Board of Directors who decides collectively how the funds are to be loaned out and to whom. During 2007/2008, an IRP/RLF combination loan was provided to WM Koch, owner/operator of the Piggly Wiggly store in Chillicothe Missouri. The loan assisted Mr. Koch with the installation of a deli and fresh cut meat case to be added to the Chillicothe store, creating three new jobs.

The Green Hills Rural Development Board of Directors also made two microenterprise loans during 2007/2008. One loan was to assist a cosmetologist in opening a full service salon in Gilman City. The second loan was made to an individual who offers medical billing and coding services for medical practitioners, hospitals, and dentists. This business venture relies heavily on the proper electronic equipment, software, and support as the owner will primarily conduct her services from her home. Both loans represent activity in the service sector of the economy which, according to Department of Labor statistics, represents the largest area of growth to be expected through the year 2020.

GHRDI offers 501 (c) 3 Services for Special Projects in the Region

Green Hills Rural Development is designated by the IRS as a 501 (c) 3 development organization with the primary focus being the administration of the aforementioned revolving loan programs. However, GHRDI also offers its 501 (c) 3 status to organizations requiring the IRS designation in order for them to apply for and/or receive funds from a variety of grant, donation, and foundation sources. GHRDI acts as the sponsor for an organization grant applications and funds received can be passed through and disbursed through the 501 (c) 3 mechanism. A full accounting of the receipt and usage of funds is provided to the organization and donors are provided with verification of their contributions for tax filing purposes.