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FmHA FUNDS
AVAILABLE FOR
RURAL PROJECTS

The USDA Farmers Home Administration (FmHA) has low interest loans for water and waste disposal systems. Projects may be located in open country or in rural communities of less than 10,000 population. Funds may also be used for solid waste disposal and storm drainage systems, Some applicants may qualify for grant funds to supplement a loan.

Loans for community facilities are available to finance health care facilities (hospitals, nursing homes, assisted living, clinics) and public safety facilities (fire stations, fire trucks, ambulances, etc.) in towns of up to 20,000 population. Other public facilities such as community buildings, public maintenance buildings, libraries, industrial parks, fairgrounds improvements, mental health counseling centers, day care centers, shelter workshops for the handicapped and others are also eligible.

Public bodies and not-for-profit corporations are eligible. Interest rates are currently 4.5% to 5.5% depending on the median household income of the service area. Loans are for 40 years or the useful life of the facility or equipment. There are no loan application fees.

FmHA also administers a guaranteed business loan and a low interest revolving loan program as well as housing and farm lending programs.

Contact the nearest FmHA District Office (Princeton, Morris, Galesburg, Jacksonville, Champaign, Flora, Nashville or Harrisburg) or the FmHA State Office at 217-398-5247 for more information or application forms. •

Page 20 / Illinois Municipal Review / July 1994


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