| U S D A / R u r a l D e v e l o p m e n t |
| WASHINGTON, D.C. 20250-0705 |
News Release |
Susan McAvoy, (202) 720-4623
susan.mcavoy@usda.gov
Tim McNeilly, (202) 690-0498
tmcneill@rdmail.rural.usda.gov
WASHINGTON, December 29, 2000--Agriculture Secretary Dan Glickman today awarded $13.2 million in USDA loan and grant funds for 31 rural business and community development efforts in 19 states. The funds will leverage private and other public funding to establish local business revolving loan funds and expand access to local health and community facilities.
"Many rural businesses have not been able to participate in our strong national economy due to the lack of available capital, expertise or services," said Glickman. "Through the combined efforts of USDA and local leaders, we will help open additional new markets for rural businesses, and ensure that future rural entrepreneurs can access much needed capital. "
$6.6 million in USDA Intermediary Relending Program loan funds will be used to establish or expand locally controlled business revolving loan programs. The remaining $6.6 million in Rural Economic Development Loan and Grant Program funds will be used to expand or create businesses in rural areas and develop health and community facilities.
The loan/grant recipients are listed below. For further information on USDA rural business programs visit http://www.rurdev.usda.gov/rbs/.
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Rural Economic Development Loan and Grant recipients are:
| Florida | |
| Peace River Electric Cooperative, Inc. | $450,000 loan |
| Georgia | |
| Hart Electric Membership Corporation | $450,000 loan |
| Iowa | |
| Heartland Power Cooperative | $450,000 loan |
| Indiana | |
| Southern Indiana Rural Electric Cooperative, Inc. | $450,000 loan |
| Kansas | |
| Nemaha-Marshall Electric Cooperative Association, Inc. | $450,000 loan |
| Bluestem Electric Cooperative, Inc. | $200,000 grant |
| Pioneer Electric Cooperative, Inc. | $200,000 grant |
| Kentucky | |
| Kenergy Corporation | $450,000 loan |
| Minnesota | |
| P.K.M. Electric Cooperative, Inc. | $400,000 loan |
| Loretel Systems, Inc. | $400,000 loan |
| Mississippi | |
| Singing River Electric Power Association | $450,000 loan |
| Missouri | |
| United Electric Cooperative, Inc. | $100,000 loan |
| North Dakota | |
| Mountrail-Williams Electric Cooperative, Inc. | $200,000 grant |
| Dakota Valley Electric Cooperative, Inc. | $350,000 loan |
| Oklahoma | |
| Caddo Electric Cooperative, Inc. | $400,000 loan |
| South Dakota | |
| Cam-Wal Electric Cooperative, Inc. | $420,000 loan |
| Tennessee | |
| Meriwether Lewis Electric Cooperative | $450,000 loan |
| Wisconsin | |
| UTELCO, Inc. | $300,000 loan |
Intermediary Relending Program loan recipients are:
| Alabama | |
| Bullock Co. Development Authority | $500,000 |
| Illinois | |
| City of Olney | $500,000 |
| Maine | |
| City of Gardiner | $500,000 |
| Missouri | |
| Rural Missouri, Inc. | $500,000 |
| North Carolina | |
| Advancement, Inc. | $750,000 |
| Dunn Area Committee of 100, Inc. | $500,000 |
| North Dakota | |
| Souris Basin Planning Council | $500,000 |
| Lake Agassiz Regional Development Corporation | $500,000 |
| Oklahoma | |
| Central OK Economic Development District | $500,000 |
| Idabel Industrial Development Authority | $250,000 |
| Pennsylvania | |
| Community Loan Fund of Southwestern PA, Inc. | $750,000 |
| South Dakota | |
| NE South Dakota Economic Corporation | $750,000 |
| Wisconsin | |
| CAP Services, Inc. | $112,500 |
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