WASHINGTON, April 16, 2004 -
Agriculture Secretary Ann M. Veneman today unveiled a new USDA faith-based
and community organization pilot program to help educate nonprofit organizations
on the Rural Development Community Facilities Guaranteed Loan Program and
connect them to local lending institutions.
“To further support our nation’s rural
communities, these workshops will help faith-based and community organizations
get the information they need about available resources,” said Veneman.
“This Administration remains committed to helping faith-based and
community organizations get access to federal resources to enhance their
capacity to serve their communities.”
Through an Executive Order on December 12, 2002, President
Bush incorporated USDA into his Faith-Based and Community Initiative.
As part of its faith-based and community focus, USDA ensures that faith-based
and community organizations have equal access to USDA programs and benefits
and works in conjunction with the Department's many mission areas to reach
out and educate faith-based and community organizations about USDA programs
and benefits. The best opportunities for federal assistance to faith-based
and community organizations are outlined on USDA’s faith-based and
community initiatives Web site at http://www.usda.gov/fbci.
USDA Rural Development’s community
facility loan guarantee program allows lenders to finance and facilitate
essential community facilities such as health care clinics, police and
fire stations, schools and child care centers. Through this program, USDA
can provide a lender a guarantee of up to 90% of the total loan amount.
In fiscal year 2003, the average loan guarantee was $1.6 million with
a range from $55,000 to $22.5 million.
Information about the dates and locations of the educational
workshops will be announced soon and will be made available through USDA
Rural Development field offices. Local contact information is available
on USDA’s Rural Development Web site at http://www.rurdev.usda.gov
under USDA Rural Development--State
and Field Office Locations.
USDA Rural Development's mission is to deliver programs
that will support increasing economic opportunity and improve the quality
of life of rural residents. As a venture capital entity, Rural Development
provides equity and technical assistance to finance and foster growth
in homeownership, business development, and critical community and technology
infrastructure. Additional information about rural programs is available
at a local USDA Rural Development office or on USDA's Web site at http://www.rurdev.usda.gov.
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