Box Elder will use a $98,000 federal grant as seed money to help new and existing businesses grow.

The U.S. Department of Agriculture Rural Development's rural business enterprise grant will assist small and emerging businesses, state director Jafar Karim said.

The city of Box Elder and the Box Elder Economic Development Corp. will use the grant to create a revolving loan fund. The process typically sees participating businesses generating economic activity and repaying their loans, which in turn makes money available for loans to other businesses to repeat the cycle.

In a news releases, officials said Box Elder has witnessed "amazing growth and development" in recent years, including a housing surge and a new call center that will employ several hundred people.