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$1.4BN in backed loans for US Rural Broadband

yellum · 2003-02-06 18:04:30

http://ruralbroadbandcoalition.net/ Story on USA Today

06-02-2003 6:04pm

#1

yellum

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The U.S. Agriculture Department last week announced its first big rural broadband effort — a $1.5 billion loan program to encourage high-speed start-ups. Such efforts hastened the spread of electricity and phone service to rural areas. The broadband program has already attracted interest among dozens of entrepreneurs, the department says. The idea is that, with subsidized loans, companies can make the economics of rural broadband work. The loans charge interest rates near 5% — about three points below market. A pilot rural broadband loan program in 2001, with $180 million, drew 61 applications totaling $500 million.

http://ruralbroadbandcoalition.net/

Story on USA Today

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