Rbdg rural business coop rural enterprise grant

The Department of Agriculture Rural Business Cooperative Services awarded Valdese Economic Development Investment Corp (doing business as Vedic) $175,000 under the Rural Business Development Grant program (CFDA 10.351) on February 11, 2026, to deliver technical assistance and business development services to small businesses in rural North Carolina.

The award supports Vedic's work with small and emerging private enterprises employing 50 or fewer new employees and projecting less than $1.0 million in gross revenue. Vedic operates as a pass-through intermediary nonprofit, deploying grant funding to deliver business development services directly to qualifying small enterprises rather than functioning as a direct-service contractor. The funding period runs through February 11, 2028, with place of performance in North Carolina.

The Rural Business Development Grant program promotes sustainable economic development and facilitates the development of small and emerging private business, industry, and related employment for improving rural economies. Grants under this program are made to government entities, private nonprofit corporations, and federally recognized Indian tribes that assist business-type operations; grants are not made directly to businesses. Program priorities include projects located in communities with large low-income populations, projects that save existing jobs, projects that create jobs, and projects in areas with high unemployment rates.