USDA Rural Development announced a $948,744 loan to the Rural Telephone Service Co., Inc., located in Lenora, Kan. The cooperative is utilizing USDA’s Rural Economic Development Loan Program (REDL) to provide financing to Citizens Medical Center Inc., in Colby, Kan., for purchasing new medical equipment.
“I am happy that USDA can be a partner in providing the most up-to-date modern technology and advanced medical services for residents in northwest Kansas,” said Randy Snider, USDA Rural Development Business Programs Director in Kansas. “The partnership in this project by the rural cooperatives, the medical center, and USDA is helping to improve the quality of life in rural Kansas.”
Through the REDL program, the hospital will be able to update some of its medical equipment that will help it meet the medical needs of the community. Medical equipment that is targeted for replacement at the hospital include a new CT scanner, mammography system, hematology and coagulation equipment, and dermatologic equipment.
The REDL program provides funding to rural projects through local utility organizations. Under the REDL program, USDA provides zero interest loans to local utilities which they, in turn, pass through to local businesses (ultimate recipients) for projects that will create and retain employment in rural areas.
Citizens Medical Center, Inc., operates as a not-for-profit community hospital that is locally incorporated and managed, and is the largest health care organization in northwest Kansas. Rural Telephone Service Co., Inc. is a Kansas cooperative and is a leader in the telecommunications industry.
Each year in October, the USDA highlights the economic impact and innovation of cooperative businesses, particularly in rural communities. The United States has approximately 29,000 cooperatives with 350 million memberships, generating $650 billion in annual revenue and 2.1 million jobs. In 2016, USDA Rural Development partnered with three Kansas cooperatives through the REDL program to invest more than $2.6 million into rural Kansas projects.
Since 2009, USDA Rural Development has invested nearly $13 billion to start or expand nearly 112,000 rural businesses; helped bring high-speed Internet access to nearly 6 million rural residents and businesses; helped 1.1 million rural residents buy homes; and funded nearly 9,200 community facilities such as schools, public safety and health care facilities. USDA also has invested $31.3 billion in 963 electric projects that have financed more than 185,000 miles of transmission and distribution lines serving 4.6 million rural residents. For more information, visit www.usda.gov/results.