USDA Rural Development Initiative Brings Federal Loans To Arizona

By Casey Kuhn
Published: Thursday, October 6, 2016 - 7:16pm
(Photo courtesy of Lorne Matalon)
Thousands of mostly poor Hispanic people live in border communities called colonias with no access to running water or electricity.

 Thursday the U.S. Department of Agriculture announced a loan program aimed at reducing rural poverty nationwide. Some of the project’s $400 million in loans is being doled out in Arizona.

Long-term poverty, rural regions the USDA said could benefit from the loans are colonias along the U.S.-Mexico border. Colonias are mostly poor Hispanic communities that lack development, some of which are in Arizona.

The partnership between the USDA and community development organizations intends to provide long-term, low-interest loans to help with local services like education, health care and infrastructure.

The USDA promised Arizona-based company Prestamos $15 million meant for those development projects.

Prestamos provides services for Arizona and Nevada small businesses, including micro loans.

California-based Rural Community Assistance, which also serves Arizona, received $30 million as well.

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