Coffee shop the recipient of Virginia lending program's first loan

1/4/2012

A United States Department of Agriculture loan to the city of Harrisonburg, Virginia, helped fund its new lending program, which recently closed its first loan deal, the Augusta Free Press reports.

The USDA provided the city with $99,500 via its Rural Development Program. That, along with an additional $25,500 from the city's Economic Development Department, assisted in the creation of the Harrisonburg Business Loan Program.

HBLP's first loan of $4,500 went to North Main Street coffee shop Court Square Coffee, which opened on December 31. With the loan money, co-owners Jeremiah and Erin Young plan to cover startup expenses.

"Court Square Coffee is exactly the type of business we hoped would apply through this program," city economic development director Brian Shull told the news source. "The owners' commitment to locating in the city and growing from the ground up is what we were looking for with this loan program."

According to WHSV-TV, the shop features a walk-up ordering window and a menu that consists of a "variety" of coffees and eventually locally baked goods.