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COMMUNITY FACILITIES DIRECT LOANS
Purpose: To help provide essential community facilities in rural communities for the benefit of its residents
Program Type: Loan
Eligible Applicants: Public bodies, special purpose districts, nonprofit corporations, and Indian tribes that are unable to obtain commercial credit
Eligible Areas: Cities and unincorporated areas of 20,000 population or less
Authorized Purposes: Funds obtained are used to construct, enlarge, or improve community facilities for health care, public safety, and public services
Rates and Terms: Interest rates vary based on the current market yields for municipal obligations but lower rates may be available if the residents of the service area have a low median household income; the term of the loan is 40 years or the useful life of the facility or equipment financed purchased, whichever is less
When to Apply: Year round
Who to Contact: In Kentucky, the Community Facilities Programs are administered through Rural Development's Utilities Programs. For information, call 859/224-7336