For Release: Wednesday, May 31, 2006
Contact: David Gillies: 202-225-5661
COSTELLO ANNOUNCES USDA LOANS
Washington - U.S. Congressman Jerry Costello (D-IL) announced today that the following entities in Franklin and Pulaski Counties have received $750,000 loans through the Intermediary Relending Program of the U.S. Department of Agriculture's Office of Rural Development:
- Franklin County Regional Economic Development Corporation - Funds will be used to establish a low-interest loan program for economic development projects in Franklin County.
- Pulaski County - Funds will be used to provide low-interest loans to public and non-profit organizations to relend for business and community development.
- Southernmost Illinois Delta Empowerment Zone - Funds will be used to recapitalize its low-interest loan program for new and existing businesses.
"It is important to invest in rural America, and that takes capital," Costello said. "Small, targeted investments can produce big results in terms of economic impact and job creation, and I will continue to support these efforts."
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