Special to the Bulletin
Bryan Daniel, USDA Rural Development state director, presented a ceremonial check Friday to Harris Broadband, L.P. for a $4,990,000 Business and Industry Guaranteed Loan.
The guarantee was made on a loan issued by Citizens National Bank of Brownwood. The funds are being used to construct a complete broadband network that will include cable television, full telephone service and high speed internet services to residential and business customers in Brownwood and Early.
“One of the goals of USDA Rural Development is to provide financial assistance to rural businesses that will strengthen the local economy and enhance the quality of life for area residents,” said Daniel. “In Fiscal Year 2006, $8.9 million in funds were awarded to rural businesses and 767 jobs were created or saved in Texas.”
“The USDA Rural Development office is an often over-looked, under-0appreciated asset to the Brownwood community. This agency is a vital tool for many financial organizations, especially Citizens National Bank. Being Brownwood’s only home owned Bank, Citizens strives to be active in our community and to support local businesses through the use of Rural Development and its various programs,” said John Guest, vice president of the bank.
Potential businesses in rural communities with less than 50,000 people can use the Business and Industry Guaranteed Loan funds to purchase land, buildings, equipment or supplies. The maximum amount of funds that can be offered is $25 million.
USDA Rural Development strives to see that rural citizens can participate fully in the global economy by providing technical assistance, funding, and other programs that help rural Americans build strong economies to improve their quality of life.
For further information regarding USDA Rural Development programs, call the Brownwood office at 643-1585, Ext. 4, or visit the federal Web site at http://rurdev.usda.gov/tx/.