Municipalities, tribes and nonprofits in rural areas with a population of 20,000 or less are eligible.
Community Facility loan rates are at record low levels and the term is flexible. For example, a school bus could be financed for a five- to seven-year term, and a fire station could be financed for 30 years. For instance, the Wells Family Resource Center used CF funds to put in new flooring, and the city of Caliente used CF funds to purchase two pumper trucks.
For fiscal year, 2012 USDA Rural Development has $11,868,125 in direct loan funds, $1.27 million in guaranteed loans and $89,400 in grants available. There is also $64,900 available for Economic Impact Initiative grants for communities with an unemployment or underemployment rate of 19.5 percent or greater.
For more information, call USDA Rural Development at 887-1222, ext. 104 or visit www.rurdev.usda.gov/SupportDocuments/Community%20Facilities%20App.pdf.