U.S. Senator Benjamin Nelson and Nebraska USDA Rural Development State Director Maxine Moul took part in a reception held at the USDA Rural Development State Office in Lincoln, Neb. recently. At the reception, the Senator heard how Rural Development programs have helped rural Nebraskans.
Moul said USDA Rural Development, for the first eight months of this federal fiscal year, has invested $71.2 million in American Recovery and Reinvestment Act (Recovery Act) funds to assist Nebraska rural communities, individuals and businesses.
The Guaranteed Business and Industry Loan program, through the Recovery Act, has provided help to SchillingBridge Winery and Microbrewery from Pawnee City, Neb. and Prairieland Foods LLC from Hallam, Neb. SchillingBridge utilized the program to purchase a bottling machine to package their hand-crafted beers to expand their market. Prairieland Foods LLC found better rates and terms through the program and obtained the working capital to meet the growing demands of their dairy facility. They have increased their milk production and expanded their markets.
June is Homeownership Month and the Senator also heard from homeowners and lenders who have used USDA home loan programs to finance and purchase homes in Nebraska.
“I am very pleased to hear directly from Nebraskans who were able to buy houses and expand their businesses thanks to loans underwritten by economic recovery funds and USDA Rural Development,” said Senator Nelson. “From a small milk processing facility in Hallam to a family buying a home in Cortland, these programs have an outsized impact on the lives of Nebraskans and multiply many times more than the initial investment. Loans to rural home buyers, small businesses, and schools are vital in helping Nebraska’s small towns by laying a foundation for our future prosperity.”
