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Chillicothe News - Chillicothe, MO
  • USDA accepts applications for community facility loans and grants

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  • The USDA Rural Development Office in Chillicothe is accepting applications to fund community facility projects in the area through the Community Facility Loan and Grant program.
    Community facility projects are those planned by public bodies and not-for-profit corporations.
    The funding can be used for construction projects such as hospitals, community centers, fire stations, ambulance barns, police stations, city halls, health clinics, etc.
    Equipment can also be purchased with funds from the loan program and include fire trucks, ambulances, road graders, construction equipment, office sheriff and police patrol equipment and a multitude of other equipment used by the public bodies and not-for-profit corporations.
    Loan funding is readily available to those who meet the criteria for a public body and not-for-profit. The applicants must show repayment ability and a financial need for the funding. The loans are of a fixed-rate term that is compatible with the life of the facility or equipment. The interest rate, at present, is 3.125 percent.
    Grant funding, while considerable less available, is used for the same purpose as for loan funding. Grants have a 75 percent project funding limit and generally finance a smaller percentage of the project as they are tied to the income and population of the area served by the applicant.
    For details on either program contact Dave Clarkson at the Chillicothe Rural Development Office at 660-646-6222 Ext. 110, or write to Dave Clarkson at Rural Development, 1100 Morton Parkway, Chillicothe, MO 64601.
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