USDA Holds Workshops On How To Apply For Broadband Loans

   WASHINGTON, June 17, 2004 – Agriculture Secretary Ann M. Veneman today announced five regional rural broadband funding workshops for assisting potential broadband loan applicants with information and technical assistance on how to apply for broadband infrastructure funding. As part of President Bush’s goal to expand high-speed access to every household by the year 2007, USDA Rural Development is aggressively working to provide qualified borrowers with investment funding needed to expand such infrastructure.

   “High-speed Internet access is important to economic development in rural communities,” said Veneman. “The availability of advanced technology infrastructure plays a critical role in increasing economic opportunities and improving the quality of life in rural America.”

   Veneman said that the five regional workshops will be detailed, ‘hands-on’ instruction on how to develop an application for Rural Development’s broadband loan and loan guarantee programs. The workshops will be held in Chicago, Illinois on June 22nd; Philadelphia, Pennsylvania on June 24th; Biloxi, Mississippi on June 29th; Portland, Oregon on July 13th; and Phoenix, Arizona on July 15th.

   The workshops will be at no cost to the participants, but since space is limited, registration prior to the conferences will be required. They will be targeted to those who are prepared and have the capacity to provide broadband access to rural parts of the United States.

   Discussions will include: what is required in a market survey; a business plan; how to satisfy credit support requirements and how to develop financial forecasts and other financial information. Eligibility will be discussed in terms of broadband services, communities, technologies, and who qualifies as a borrower.

   USDA Rural Development has nearly $2 billion available for loans and loan guarantees. Details on the specific workshops are listed below.

Locations and Dates:

The Workshop will begin at 8:30 a.m. local time and will continue until approximately 5:00 p.m. local time. There will be an hour lunch break. The Rural Development broadband staff will be available at the same location from 8:30 a.m. until 12:00 Noon the day after the workshop for individual guidance by prior appointment.

Chicago, Illinois: June 22, 2004, at SUPERCOMM, Room S101ab, McCormick Place, Chicago. Register at: shirley.reese@il.usda.gov; Information: 217-403-6202.

Philadelphia, Pennsylvania: June 24, 2004, The William Green Federal Building, 600 Arch Street, 2nd Floor, Conference Room C, Philadelphia. Register at: kathryn.kauffman@pa.usda.gov; Information: 717-237-2299.

Biloxi, Mississippi: June 29, 2004, The Biloxi Beachfront Hotel, 2400 Beach Blvd., Petit Bois conference room, Biloxi. Register at: bettye.oliver@ms.usda.gov; Information: 601-965-5460, ext. 153.

Portland, Oregon: July 13, 2004, USDA Rural Development, One Main Place, 101 SW Main St., 18th floor conference room, Portland. Register at brian.otten@or.usda.gov; Information: 503-414-3336.

Phoenix, Arizona: July 15, 2004, USDA Rural Development, Phoenix Corporate Center, 3003 N. Central Avenue, Suite 675, Phoenix. Register at rian.clawson@az.usda.gov; Information: 602-280-8701.

   USDA Rural Development's mission is to deliver programs in a way 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. Further information on rural programs is available at a local USDA Rural Development office or by visiting USDA's web site at http://www.rurdev.usda.gov.

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