$750,000 0% Interest Loans To Utility Companies In Small Towns Who Help Small Businesses

Provides zero interest loans to Rural Service Utilities (RUS) funded telephone and electric utilities to provide economic development and job creation projects including but not limited to: project feasibility studies, start up costs, and incubator projects. Promotes projects that will result in a sustainable increase in the productivity of economic resources in rural areas and thereby lead to a higher level of income for rural citizens. Applications may be filed on any business day at state office and should include Application for Federal Assistance as well as other documentation. Contact state office for questions concerning the application process and for a list of required documentation. Borrower should not be delinquent on an Federal debt or in bankruptcy proceedings. A project will not be selected unless supplemental funding is provided in an amount equaling at least 20 percent of the amount of the zero-interest loan funds provided by Rural Business Service. Repayment term, including any principal deferment period, will not exceed 10 years. Contact U.S. Department of Agriculture, Rural Business-Cooperative Service, 1400 Independence Ave., SW, Room 5050 South Building, Washington, DC 20250; 202-690-4730; {www.rurdev.usda.gov/}.

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