Rural Populations of 20,000 or less Eligible for Low-Interest Loans
(CARSON CITY, Nev.—June 1, 2015) USDA Rural Development (USDA RD) Nevada has $15 million available to lend to rural communities for a variety of essential community projects, such as buildings, equipment or renovations. Many people probably don't know that school districts can purchase school buses or other large equipment using USDA's low interest Community Facility Loan, which gives a community options for long-term financing.
"The CF Loan can and does fund school buses in rural Nevada," said Cheryl Couch, USDA RD's community programs director. "We know that these are essential but expensive vehicles to buy. The security and financing options are fairly flexible, so it’s a good alternative to other forms of financing. "
Nevada does not have a mandatory bus replacement schedule, and many rural school districts are using school buses that are well over 20 years old. The CF Loan is a good option to replace older school buses with new buses that meet safety and engine emission standards, and are less expensive to maintain.
Other vehicles and heavy equipment are also eligible, in the past USDA RD has also funded patrol vehicles, public works vehicles, senior vans, and even garbage trucks. All of these are considered essential to the operations of a community.
"We would be happy to come out and provide training on the program, and answer any questions you have," Couch said. The Community Facilities staff can be reached at (775) 887-1222, Ext. 104.
Smaller projects can also be funded. Daycare centers have used small loans to replace carpet, purchase equipment, and renovate kitchens. Law enforcement, court houses and judicial centers can purchase communications or audio visual equipment, computers, or build new buildings to replace inadequate structures.
For more information about USDA RD Nevada's Community Facilities program, visit http://www.rd.usda.gov/nv .