Excellent Funding Levels for Rural Community Capital Improvements

Name
Kate O'Hara
City
Champaign
State
Illinois
Release Date
Feb 25, 2015

You may not expect building a firehouse, renovating a library or expanding a nursing home to have much in common.  At USDA Rural Development in Illinois, they do.  Each of these projects and countless others were made possible through a Rural Development Community Facility (CF) Program loan, guarantee or grant.

 Residents look for critical services from their community, such as protecting life and property, ensuring education and providing health care or public services. Small, rural communities are often faced with steep challenges when it comes to funding costly, yet basic needed services.

 “That’s where we can help,” said Michael Wallace, Illinois Rural Development Director for Community Programs. “Illinois has one of the largest state allocated programs. Our low interest loans are designed to assist rural communities in providing essential facilities, obtaining feasibility studies, undertaking healthcare, community or economic development projects and more.”

 “We want to make sure we’re using all that is allocated for Illinois communities, to help those communities,” Wallace added.  “And we can’t do anything until we have an application in hand.”

This year, Rural Development has over $36 million in loan funds available and record low interest rates to invest in eligible projects.  Funds can cover new construction, renovations, equipment, professional fees, etc., and can be partnered with other local, state or federal funding.

The Rural Development State Office for Illinois is located in Champaign.  Field offices are divided into four areas throughout the State, and located in Princeton, Ottawa, Champaign, Effingham, Mt. Vernon, Marion, Galesburg and Jacksonville.  For more information, call the State Office at 217.403.6205 or go to the website at www.rd.usda.gov/il.