$6 MILLION IN RURAL BUSINESS LOAN GUARANTEES FOR MICHIGAN

                                                   Release No 0113.97

                                       Jim Petterson (202) 720-4623
                                         Tim McNeilly (517)337-6635

GLICKMAN ANNOUNCES $6 MILLION IN RURAL BUSINESS LOAN GUARANTEES FOR MICHIGAN

    DETROIT, MI, April 15, 1997--Agriculture Secretary Dan Glickman today
announced the approval of more than $6 million in rural business loan
guarantees to several Michigan lenders seeking to provide financing to four
rural Michigan business ventures.

    "The survival of many rural communities remains largely dependent on
their ability to attract and retain businesses to fuel their local economies
and provide jobs for area residents. USDA's loan guarantee program gives
financial lenders greater lending flexibility, which in many cases makes a
difference for rural business ventures."

    In Detroit to join Vice President Al Gore at the White House Community
Empowerment Conference, Glickman announced the following initiatives to be
funded through USDA's Business and Industrial Loan Guarantee Program:

PORT HURON, MI - $1,907,000.00 loan guarantee to Republic Bank in Bloomfield
Hills, MI for the construction of a 54 room Ramada, Ltd. Hotel.  Fifteen jobs
are expected to be created.  The borrower is Havenbrook Corporation of
Streamwood, IL.

COLDWATER, MI - $1,250,000.00 loan guarantee to Michigan National Bank in
Marshall, MI for the construction of a new Shell Gas Station, car wash,
convenience store and A & W Restaurant.  The new service center is expected to
create 15 new jobs. The Borrower is Hawthorne Development, Inc. of Coldwater,
MI.

SAUGATUCK, MI - $1,325,000.00 loan guarantee to United Bank of Michigan in
Grand Rapids, MI for the construction of a 52 room Holiday Inn Express.  The
new hotel is expected to create 15 new jobs. The borrower is Shree
Enterprises, Inc. of Grand Rapids, MI.

SPARTA, MI -- $1,600,000.00 Loan guarantee to Choice One Bank in Sparta, MI
will allow a new apple packing cooperative to purchase buildings and
equipment.  The new apple packing company is expected to create 28 new jobs.
The borrower is Michigan Apple Packers Cooperative, Inc. in Conklin, MI.

     Also participating in today's announcement, Donald L. Hare, State
Director for USDA Rural Development operations in Michigan said, "Michigan's
rural business entrepreneurs have carried on the  proud pioneering tradition
which has been a part of the entrepreneurial spirit for centuries. Our goal is
to give them the financial tools, through a lending institution of their
choice, to be a successful business owner."

     Since the beginning of fiscal year 1997, USDA Rural Development in
Michigan has provided rural Michigan businesses with $28,738,000 in start-up
and/or expansion loan and grant funds. The Business and Industrial Loan
Guarantee Program guarantees loans by eligible local lenders to businesses to
benefit rural areas.  The program's primary purpose is to create and maintain
employment and improve the economic and environmental climate in rural
communities.  This is achieved by expanding the existing private credit
structure capability to make and service quality loans to provide lasting
community benefit.

     Rural Development is a mission area within the U.S. Department of
Agriculture responsible for administering various rural housing; rural business
and industry; and rural community development loan and grant programs.


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