USDA Secretary Tom Vilsack announced USDA will begin implementation a number of projects provided for in the stimulus package. This package includes funding for housing loan guarantees and water and waste infrastructure.
USDA Rural Development Agency will initially provide nearly 10,000 rural families with $14.9 million ($1.17 billion in loan guarantees) for homeownership financing, creating or saving more than 5,000 jobs.
USDA Rural Development (RD) will also release funding for more than $400 million in pending applications for water and waste grants, and $140 million in pending applications for water and waste direct loans. RD expects nearly 13,000 jobs will be created by 400 water and wastewater projects.
This funding will give rural communities a boost! USDA can be reached locally at 575-546-9291 or 575-388-1569. USDA loans are only offered in rural areas. For more information click here.