USDA Grants Almost $30 Million in Tech Loans

Iowa, Kentucky, Ohio and Texas firms will receive telecommunications loans.

The USDA Rural Development's Broadband Access and Telecommunications Programs will provide nearly $30 million in loans to telecommunications firms in Iowa, Kentucky, Ohio and Texas.

Rural Development is granting the loans in order to finance the improvement, expansion, construction, or acquisition of telecommunications facilities in rural areas.

The loans should help to provide reliable broadband and telecommunications services to rural residents, Agriculture Deputy Secretary Chuck Conner says. "Since 1949 USDA has been providing long term financing to build and maintain communications infrastructure that is the cornerstone of rural America's telecommunications system."

Some of the improvements the loans will fund include:

  • Iowa: a $4,489,000 loan will be provided to the Cooperative Telephone Exchange of Stanhope to connect new subscribers and deploy new fiber to the home system in Hamilton and Boone counties that will enable subscribers to receive the full range of high speed telecommunications services.
  • Texas: in Joshua, Alenco Communications, Inc. will receive a loan of $11,244,000 to connect new subscribers, build new distribution lines, fiber optic cable systems and install fire suppression equipment at various sites. Services will be upgraded in 15 counties.
  • Ohio: The McClure Telephone Company will receive a $6,167,000 Broadband loan to construct a fiber to the home system throughout their exchange in Henry County, providing service to 245 data, 808 voice and 256 video subscribers.
  • Kentucky: The Monticello and Wayne County Telecommunications Board will receive a $7,599,000 loan to connect almost 1,800 new data subscribers, provide voice over Internet service to over 2,000 subscribers and replace analog cable TV systems with a fiber-to-the-home system.
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