There were 40 press releases posted in the last 24 hours and 155,447 in the last 365 days.

USDA Announces McLarty Capital Partners Rural Investment Fund

Release No. 0222.16 Contact: Office of Communications (202) 720-4623

 Printable version Email this page Email this page


USDA Announces McLarty Capital Partners Rural Investment Fund

WASHINGTON, Oct. 13, 2016 - The U.S. Department of Agriculture (USDA) today announced the launch of a new private investment fund with the potential to inject $100 million into growth-oriented, small businesses across rural America. The McLarty Capital Partners (MCP) Rural Business Investment Company (RBIC) will be the fifth RBIC that USDA has helped to initiate since 2014. The initiative is part of USDA's ongoing efforts to attract private sector capital to investment opportunities in rural America to help drive more economic growth in rural communities.

"Innovative small businesses throughout rural America need the same access to capital as their urban business counterparts," said Agriculture Secretary Tom Vilsack. "McLarty Capital Partners is an important ally in USDA's efforts to reenergize the rural economy, help small businesses grow and strengthen local communities."

"We are pleased to partner with USDA in this innovative public-private partnership to propel and sustain small business growth in rural America," said McLarty Capital Partners co-founder, Franklin McLarty. "With roots in America's heartland, McLarty Capital Partners is committed to ensuring that small and medium sized enterprises have the means necessary to achieve their business goals, and this endeavor only furthers that mission."

McLarty Capital Partners, founded in 2012 by co-presidents Franklin McLarty and Christopher Smith, provides flexible financing solutions to small and medium sized enterprises in the United States. McLarty Capital Partners is uniquely positioned to support the long-term business objectives of rural American partners across the country. MCP Rural Investment Fund will invest in this vital sector of the U.S. economy with the goal of ensuring that businesses located in smaller communities throughout the nation have access to the capital needed to realize their goals.

The new fund announced today was formed under the USDA's Rural Business Investment Program (RBIP). USDA is utilizing RBIP to license funds that invest in enterprises creating growth and job opportunities in rural areas, with an emphasis on smaller enterprises. In 2014, Advantage Capital was granted a license for their $154 million Advantage Capital AgriBusiness Partners fund. The fund is making private equity investments in innovative agriculture-related businesses that support USDA's strategy for economic growth, including bio-manufacturing, local and regional food systems, advanced farming technologies and other cutting-edge fields. Since its inception in 2014, the fund has made a total of 11 investments, totaling $39 million. Secretary Vilsack has also announced the conditional approval of other RBICs: Innova Ag Innovation and Meritus Kirchner Ventures in April 2015; and in April 2016, the Open Prairie Rural Opportunities Fund. Additional funds are currently under review.

These efforts are part of the Made in Rural America initiative, which was created by President Obama to help rural businesses and leaders take advantage of new investment opportunities and access new markets abroad.

USDA works to strengthen and support American agriculture, an industry that supports one in 11 American jobs, provides American consumers with more than 80 percent of the food we consume, ensures that Americans spend less of their paychecks at the grocery store than most people in other countries, and supports markets for homegrown renewable energy and materials. Since 2009, USDA has provided $5.6 billion in disaster relief to farmers and ranchers; expanded risk management tools with products like Whole Farm Revenue Protection; and helped farm businesses grow with $36 billion in farm credit. The Department has engaged its resources to support a strong next generation of farmers and ranchers by improving access to land and capital; building new markets and market opportunities; and extending new conservation opportunities. USDA has developed new markets for rural-made products, including more than 2,700 biobased products through USDA's BioPreferred program; and invested $64 billion in infrastructure and community facilities to help improve the quality of life in rural America. For more information, visit


USDA is an equal opportunity lender, provider and employer.

Distribution channels: Agriculture, Farming & Forestry