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Rural Communities Encouraged to Apply for USDA Water and Waste Disposal Loans and Take Advantage of Historically Low Interest Rates

Name
Eric Peters
City
Richmond
Release Date

USDA Rural Utilities Service Administrator Brandon McBride today announced that interest rates have fallen to historic lows for USDA water and waste disposal loans and encouraged rural towns and cities to apply for funding assistance.

The following rates are available through June 30, 2016:

  • Market: 2.875%
  • Intermediate: 2.25%
  • Poverty: 1.75%

Applications may be submitted by most state and local governmental entities, private non-profits, and federally-recognized tribes who are unable to obtain commercial credit at reasonable rates.

Applicants are encouraged to use Rural Development’s new online application tool RD Apply

The Water and Waste Disposal Loan and Grant Program provides funding to construct clean and reliable drinking water systems, sanitary sewage disposal, sanitary solid waste disposal, and storm water drainage to households and businesses in rural areas with a population of 10,000 or less.

For more information about this program, contact Jim Maras, Community Programs Director, at (804)287-1590 or Darlene Hughes, Community Programs Specialist, at (804)287-1602.