|(JUNE 20, 2013) USDA WELCOMES NEW VELVA BUSINESS|
|Three USDA programs utilized in construction of convenience store|
|VELVA, ND, Jun 20, 2013
@@At a grand opening today in Velva, USDA welcomed Farmers Union Oil Company’s new convenience store. USDA Rural Development partnered on the project to finance more than $3 million in loans and grants.
“The Velva area continues to see increased growth in residential and economic activity,” said Jasper Schneider, USDA Rural Development state director. “We are proud to partner on a project that positively impacts the community and supports rural economic development.”
The 7,000 square foot gas station offers 24-hour services including dining areas, fast food and fueling bays. There also is a trucker lounge with showers, wireless internet and laundry. Located on the edge of Velva off of Highway 52, the store’s entrance boasts the largest log truss in the United States, measuring 80 feet long and weighing over eight tons.
The project received USDA Rural Development financing through three different programs. This financing included: a $159,379 Rural America for Energy Program (REAP) grant for nine blender fuel pumps, a $1 million Rural Economic Development loan through Verendrye Electric Cooperative, and a $1,850,795 Business and Industry guaranteed loan through Peoples State Bank of Velva.