The World Famous Talking Bear outside of Century 21 Ditton Realty in Oakhurst dons a scarf for the cold weather in this 2019 file photo.

The Central Valley will see a portion of $54 million investment to expand market opportunities for rural California businesses from the Biden-Harris Administration.

The money comes via the U.S. Department of Agriculture to expand essential services for rural parts of California.

Under USDA Rural Development’s Business and Industry Loan Guarantees Program, a $10 million loan guarantee will facilitate the purchase, renovation and rebranding of a 70-room hotel in Oakhurst. The loan applicant is Royal Oaks Hotel LLC.

Chowchilla hotelier Nick Patel is listed as the agent for the business in paperwork submitted to the California Secretary of State.

Once rebranded, the business will attract more guests and help save 20 local jobs, according to the loan guarantee application.

Under the Rural Microenterpreneur Assistance Program, the Fresno Area Hispanic Foundation will use a $65,198 grant to provide technical assistance to business owners for marketing, management and other needs.

USDA Rural Development California State Director Maria Gallegos Herrera said: “The Biden-Harris Administration is committed to rebuilding the economy from the bottom up and the middle out. Today’s investments prioritize economic development and growth in rural areas by expanding access to capital, business development, and technical assistance to small business owners across California. By investing in rural areas that are critically important to our economy but often left behind, we are building an inclusive economy where all can thrive.”