News Release
Release No.STELPRD4006779
ContactDarin Leach515-284-4747
(NOV 2, 2010) FUNDS FROM USDA RURAL DEVELOPMENT AND CITIZENS MUTUAL TELEPHONE COMPANY ASSISTING DAVIS COUNTY HOSPITAL EXPANSION AND RENOVATION PROJECT
$360,000 Helping Purchase New MRI Equipment to Improve Hospital Services
Bloomfield, IA, Nov 02, 2010 --

@@E-mail: Darin.Leach@ia.usda.gov

BLOOMFIELD, Iowa – November 2, 2010 – Jeff Kuntz with USDA Rural Development, along with representatives from Citizens Mutual Telephone Company today presented leaders at the Davis County Hospital with $360,000 in loan funds to assist with the purchase and installation of new magnetic resonance imaging (MRI) equipment.

“We are extremely pleased to be assisting the Davis County Hospital in their efforts to provide top quality medical care in southern Iowa,” said Bill Menner, USDA Rural Development State Director in Iowa. “Helping to enhance the quality of life for rural Americans through improved health care opportunities continues to be a top area of emphasis at USDA Rural Development.”

Earlier this year, USDA Rural Development awarded Citizens Mutual Telephone Company with a $300,000 grant to support a revolving loan fund managed by the telephone company. The telephone company contributed a 20 percent match to the revolving loan fund, consisting of its own funds and a Ripple Effect Grant from Iowa Network Services to bring the loan total to the hospital to $360,000.

The Davis County Hospital has provided quality care to Bloomfield since 1947. The newly purchased equipment is part of a multi-million dollar expansion and renovation project that will improve the hospital’s facility and services.

The funds to Citizens Mutual Telephone Company are being provided through USDA Rural Development’s Rural Economic Development Loan and Grant program. Under the program, USDA Rural Development provides loans and grants to rural utilities, usually rural telephone or electrical cooperatives, which in turn provide loans to rural businesses and communities in their service areas.

Over the past five years USDA Rural Development has awarded nearly $280 million in financial assistance to more than 80 hospitals, rehabilitation centers, healthcare office buildings, clinics, mental health facilities, nursing homes and assisted living centers in Iowa to improve, expand or build new facilities.

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    Funds Helping with Expansion and Renovation at Davis County Hospital … page 2

Contact USDA Rural Development

For more information about finance programs through USDA Rural Development, please call the office located in Albia at (641) 932-3031. This office serves communities, residents and businesses in Jasper, Poweshiek, Marion, Mahaska, Lucas, Monroe, Wapello, Wayne, Appanoose and Davis Counties.

USDA Rural Development has 11 offices across the state to serve the 1.9 million Iowans living in rural communities. Office locations include a State Office in Des Moines, along with Area Offices in Albia, Atlantic, Humboldt, Indianola, Iowa Falls, Le Mars, Mount Pleasant, Storm Lake, Tipton and Waverly.

Further information on programs available through USDA Rural Development is available by visiting the agency’s web site at www.rurdev.usda.gov/ia.

USDA Rural Development is an equal opportunity lender with a variety of direct and guaranteed rural credit programs involving single and multi-family housing, community facilities, water and sewer development and business and industry programs.

USDA Rural Development investment in rural Iowa in 2010 has helped a record number of Iowans receive funding for economic development projects and quality of life improvements. The agency has helped create or retain more than 2,000 jobs, aided 2,800 families in buying their own homes and assisted more than 140 communities in improving community facilities and upgrading local infrastructure.

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