United States Department
of Agriculture • Rural Development
Contact: Alec Lloyd (517) 324-5204
EAST LANSING, Oct. 16, 2007 – USDA Rural Development Director for Michigan Gene DeRossett today presented a ceremonial loan guarantee check for $1,571,483 to Superior Health Support Systems at the ribbon-cutting for the newly renovated assisted living facility formerly known as Sunset Manor.
“This is a great example of one of the many ways USDA Rural Development invests in quality of life improvements,” said DeRossett. “Our loan guarantee program helps local lenders and businesses as well as rural residents.”
The loan guarantee was made with mBank, a Michigan-based community bank wholly-owned by Mackinac Financial Corporation.
The event is part of a series of ceremonies commemorating nearly $2 million in grants and loans this month for communities across the Upper Peninsula. So far this year, Upper Peninsula communities have received more than $18 million in grants and loans from USDA Rural Development.
USDA Rural Development’s mission is to deliver programs in a way that will support increasing economic opportunity and improve the quality of life of rural residents. Rural Development has invested more than $76.8 billion since the beginning of the Bush Administration to provide equity and technical assistance to finance and foster growth in homeownership, business development, and critical community and technology infrastructure. As a result, more than 1.5 million jobs have been created or saved through these investments. Further information on rural programs is available at a local USDA Rural Development office or by visiting USDA’s web site at http://www.rurdev.usda.gov.
Questions? Contact the Webmaster