USDA Announces $342 Million in Rural Broadband, Telecommunications Loans

On September 26, Agriculture Secretary Ed Schafer announced that broadband and telecommunications loans totaling more than $342 million were awarded to 18 communications firms serving 22 states. The funds are meant to help bring new and improved telecommunications services to rural residents and businesses. The loans are being made through the Rural Development Broadband Loan and Loan Guarantee Program, which provides low-interest loans to deploy broadband and telecommunications services to rural communities of 20,000 residents or less, with first priority going to areas without broadband. Rural Development is also providing funding through the Telecommunications Infrastructure Loan Program, which makes loans to local firms working to provide both voice and broadband services in areas with 5,000 or fewer citizens.