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New and developing businesses in Maud, Texas, moved closer to getting $150,000 in financial loan assistance last week.

During its regular monthly meeting May 29, the Ark-Tex Council of Governments Board of Directors’ Executive Committee approved a grant application submitted April 15 to ATCOG staff.

The application asks the U.S. Department of Agriculture for $150,000 in Rural Business Enterprise Grant program funds that would be used to set up a revolving loan program to provide below-market rate loans to new and expanding businesses within the Maud city limits. The bus...