PHOENIX, Nov. 14, 2023– USDA Rural Development Arizona State Director Charlene Fernandez today announced $45 million in loan guarantees and a $105,000 grant to spur economic development, catalyze rural prosperity and advance equity in Arizona’s rural communities.
These investments are included in a national announcement made by Agriculture Secretary Tom Vilsack, totaling $1.2 billion nationwide in support of rural cooperatives.
“The announcement by Secretary Vilsack is a welcome relief for so many residents in rural areas that lack accessibility to quality medical care,” Fernandez said. “The Biden-Harris administration listened and acted on the concerns of rural Arizona in regards to accessibility to quality health care. The lack of affordable housing is felt on Tribal nations as well as rural communities throughout our state. With over $45 million dollars, all investments towards housing and healthcare will reach the most rural parts of our communities and address local needs.”
EHC Bullhead City LP is receiving a $10 million Business and Industry loan guarantee through U.S. Eagle Federal Credit Union to build a micro-hospital and urgent care facility in Bullhead City, Mohave County, Arizona. The facility will increase the availability of the emergency room, urgent care, and hospital services in this rural community and create 40 jobs.
Another $10 million Business and Industry Program loan guarantee will go to EHC Prescott LP to build a micro-hospital and urgent care facility in Prescott, Yavapai County, Arizona. Like the one to be built in Bullhead City, this facility will increase the availability of the emergency room, urgent care, and hospital services in this rural community and create 40 jobs.
Windsong Senior Living Propco LLC is receiving a $25 million loan to help construct an assisted living and memory care facility in Prescott Valley, Arizona. The new 106-room, 121-bed facility will help serve the long-term care needs of surrounding communities and help retain 42 jobs.
Business and Industry Loan Guarantees provide financial backing to start or expand eligible rural businesses. Applicants work with local lenders, and loans are guaranteed by USDA.
Dine Community Development Corporation is receiving a $105,000 grant through the Socially-Disadvantaged Groups Grant Program to help conduct a feasibility study and develop a business plan for a reservation-based housing cooperative. The goal of the project is to remove barriers and provide additional housing options to Navajo families.
The primary objective of the Socially Disadvantaged Groups Grant program is to provide technical assistance to socially disadvantaged groups through cooperatives and Cooperative Development Centers.
USDA Rural Development offers a variety of financial assistance and services to assist rural businesses, including cooperatives and agricultural producers. For more information on cooperatives, visit USDA Rural Development Cooperative Services.
To learn more about investment resources for rural areas, visit www.rd.usda.gov or contact the USDA Rural Development Arizona state office.
USDA Rural Development provides loans and grants to help expand economic opportunities, create jobs and improve the quality of life for millions of Americans in rural areas. This assistance supports infrastructure improvements; business development; housing; community facilities such as schools, public safety and health care; and high-speed internet access in rural, tribal and high-poverty areas. For more information, visit www.rd.usda.gov/az.