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Wayne County Hospital in Monticello, KY
GUARANTEED COMMUNITY FACILITIES LOANS
Purpose: To help provide essential community facilities in rural communities for the benefit of its residents
Program Type: Loan Guarantee
Eligible Applicants: Banks, savings and loan institutions, Farm Credit System banks, and insurance companies regulated by the National Association of Insurance Commissioners
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 may be fixed or variable and are negotiated with the lender; 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: At Kentucky Rural Development, the Community Facilities Programs are administered through the Business and Cooperative Programs office. Contact them at 859/224-7336