Communities where USDA Rural Utilities Service has previously provided funding for construction of broadband infrastructure may not be eligible.
Other Eligibility Criteria:
Rural areas and towns with a population of 5,000 or less; Areas without telecommunications facilities or areas where the applicant is the recognized telecommunications provider are eligible; Check with USDA - Rural Development
Loan Terms vary by loan type:
-Cost-of-money loans: fixed rate at current U.S. Treasury rates depending on loan maturity at time of each advance
-Loan Guarantees: fixed rate primarily from the Federal Financing Bank (FFB). Interest rates (Treasury rate plus 1/8%) vary depending on call options and the interim maturity rate selected at each advance, which may be as short as 90 days, with auto-rollover. Current rates available online, scroll down to “Treasury Constant Maturities” add 0.125% for FFB rate
-Hardship loans: fixed interest rate of 5% for up to 20 years and requires special qualifications