“WCCTA is committed to providing not only quality broadband, digital tv and phone services to our communities. We have a true commitment in providing resources.. for the betterment of the communities we serve,” states Marcie Boerner Office Manager
Gowrie, Iowa (PRWEB)
September 13, 2017
Stewart Memorial Community Hospital (SMCH) of Lake City, Iowa began a $860,000 fundraising effort in December, 2016 for their Patient Centered Healing Environment Project to improve areas used by most patients in Lake City, Rockwell City, Lake View and Gowrie medical clinics. A welcomed boost of $360,000 towards the project has just been announced.
The Webster-Calhoun Cooperative Telephone Association (WCCTA) has created a revolving loan fund with the USDA Rural Economic Development Loan and Grant Program. The fund application also required that WCCTA commit an additional $30,000 and another $30,000 match will be added from Aureon’s Ripple Effect grant for a total of $360,000. These proceeds will be allocated to the SMCH project as a zero-interest loan.
The Rural Economic Development Loan and Grant program provides funding for rural projects through local utility organizations such as WCCTA. 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. The ultimate recipients repay the lending utility directly and then the utility reloans the funds for other community projects.
USDA provides grants to local utility organizations which use the funding to establish revolving loan funds (RLF). Loans are made from the revolving loan funds to projects that will create or retain rural jobs.
“The project budget that will create the patient…