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News Release

Release No. 0398.10
Contact:
Dane Henshall (202) 260-0996

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Agriculture Secretary Vilsack Announces Recovery Act Efforts Aimed at Creating Jobs and Supporting Local Economies

WASHINGTON, Aug. 6, 2010, 2010 – Agriculture Secretary Tom Vilsack today announced that USDA is providing loan guarantees to 128 businesses in 35 states, the territory of American Samoa, and the Commonwealth of Puerto Rico to provide economic opportunities and create jobs. The funding is made available through the American Recovery and Reinvestment Act of 2009 (Recovery Act).

"Today's announcement is an example of how the Obama Administration is working to create jobs and rebuild and revitalize rural America to ensure the working people in small communities throughout the country have a brighter future," Vilsack said. "The loan guarantees we are announcing will help businesses to grow and promote job creation to promote economic opportunity in rural communities."

In Cortland, NY, R.D. Palmer Enterprises, Inc., which owns a gas station that sells E-85 blended gasoline, has been selected to receive a $1.85 million USDA loan guarantee to expand the business by installing additional gas pumps and incorporating a national franchise. The franchise is expected to bring 18 associated jobs. The guaranteed loan will allow the business to remain in the community of Cortland.

In Jackson, Mich., the Center for Family Health, Inc. has been selected to receive a $7.2 million loan to consolidate its services in one central location. Currently the Center operates out of two leased facilities which are at capacity. Rural Development funds will be used to construct a 54,100 square foot building that will house the center's main medical, dental and administrative offices. The funding will create 45 and save 161 jobs for the center, which is a major area employer.

In Hardy, W.Va., the Moorefield Training Center has been selected to receive an $8 million loan to construct a training center for military, law enforcement, government and private sector security personnel. Moorefield Training Center has a training capacity to train over 300 students and is important to the overall local economy as it will create 15-20 full time and 30 part time high quality jobs. Established businesses will also benefit from this project through the training center participants coming into the area.

The loan guarantees announced today support 128 projects and total $413 million. USDA Rural Development's Business and Industry Guaranteed Loan Program received $1.57 billion to help rural businesses stimulate their economies and support their communities. Eligible applicants include private businesses, cooperative organizations, corporations, partnerships, non-profit groups, Federally-recognized Indian tribes, public bodies and individuals. The funds are targeted to create and retain quality jobs and serve difficult-to-reach populations and areas hardest hit by the current economic downturn.

More information about USDA's Recovery Act efforts is available at www.usda.gov/recovery. More information about the Federal Government's efforts on the Recovery Act is available at www.recovery.gov.

A list of borrowers receiving loan awards is shown below. Funding is contingent upon borrowers meeting conditions in the loan agreement.

Alabama

  • Donald Smith Company, Inc.; The Headland National Bank: $4,486,500 loan
  • Tri-Cities Senior Housing LLC; Peoples Independent Bank: $2,820,000 loan
  • Cole Properties, LLC; Vision Bank: $3,866,000 loan
  • Pitts Enterprises, Inc; ServisFirst Bank: $3,700,000 loan

Alaska

  • Kikiktagruk Inupiat Corporation; Alaska Growth Capital BIDCO, Inc.: $1,500,000 loan
  • Vision Alaska II; One Georgia Bank: $1,111,111 loan

American Samoa

  • American Samoa Hawaii Cable, LLC; ANZ Amerika Samoa Bank: $16,672,000 loan

Arizona

  • Riedel, Richard & Beverly dba Willcox Village Shopping Center; Western Commerce Bank: $2,425,000 loan

California

  • PRS Hotel Group, Inc.; Global Trust Bank: $2,737,922 loan
  • Kenneth C. Wilson & Stonecushion, Inc.; Pan Pacific Bank: $10,000,000 loan
  • Florentino C. Rodriguez & Tino's Plumbing, Inc.; Santa Cruz County Bank: $508,000 loan

Connecticut

  • The Shack Restaurant Groton LLC; Savings Institute Bank and Trust Co: $350,000 loan
  • Sea Research Foundation; Savings Institute: $3,957,580 loan
  • Builders Concrete East; Farmington Bank: $7,700,000 loan

Florida

  • Origin Hospitality, LLC; Excel National Bank: $400,000 loan

Georgia

  • Dupont Yard, Inc; F&M Bank: $8,310,000 loan
  • RockWater, Inc.; First State Bank of Randolph County: $3,400,000 loan
  • Sutton Lumber Co., Inc., Harold Sutton, and Doyle Sutton; First Bank of Dalton: $3,800,000 loan
  • N&G Pro, LLC & G&N Pro, Inc. d/b/a/ Mr. Clean Car Wash; One Georgia Bank: $2,626,000 loan

Idaho

  • Lancaster Trenching, Inc.; Zions First National Bank: $850,000 loan

Illinois

  • MAR Graphics; Bank of Belleville: $3,356,724 loan
  • Farmers Grain Service, Inc.; Centrue Bank: $600,000 loan

Indiana

  • Morris Mfg; Bank of Indiana: $2,000,000 loan

Iowa

  • Cooperative Energy Company; Sibley State Bank: $450,000 loan
  • Golden Furrow Fertilizer, Inc.; Cedar Rapids Bank & Trust: $6,000,000 loan
  • Berne Cooperative Association; United Bank of Iowa: $6,650,000 loan
  • GMT Corporation; Cedar Rapids Bank & Trust: $1,000,000 loan
  • Goldfield Telecom, L.C.; Security Savings Bank: $2,000,000 loan
  • Iowa Office Supply, Inc. and Star Leasing, LLC; Cedar Rapids Bank & Trust: $5,900,000 loan

Kansas

  • A-1 Scaffold Mfg., Inc.; Bank of Hays: $2,300,000 loan
  • Bowmans/FS Incon, Inc.; Citizens Bank, N.A.: $85,500 loan
  • Great Plains Gas Compression Inc.; Community Bank of the Midwest: $7,500,000 loan
  • Silica Grain, LC; The Lyons State Bank: $2,500,000 loan
  • CAH Acquisition Company #5; Hanston State Bank (Bank of Hays): $9,250,000 loan

Kentucky

  • Heritage Legacy, LLC; First State Financial: $7,440,200 loan
  • Dickerson Lumber Company; South Central Bank of Monroe County: $5,527,677 loan
  • Southern KY Hardwood Flooring; Edmonton State Bank: $1,675,000 loan

Louisiana

  • Game Equipment, LLC; BizCapital BIDCO II: $3,200,000 loan
  • Pugh Barrios Holding, LLC, and Cabo Rio, LLC; Southern Heritage Bank: $320,000 loan
  • Pugh Barrios Holding, LLC, and Cabo Rio, LLC; Southern Heritage Bank: $900,000 loan
  • Red River Biomass, LLC; Bank of Montgomery: $10,000,000 loan

Michigan

  • Bayview Professional; Bank of Northern Michigan: $5,075,000 loan
  • Century Technology; Chelsea State Bank: $2,150,000 loan
  • ProAct Services; Huntington Bank: $2,100,000 loan
  • Marimba Auto; Level One Bank: $4,895,000 loan
  • Center for Family Health; Hillsdale County National Bank: $7,280,000 loan
  • Grant Fraser MI, LLC; Borrego Springs Bank: $2,140,000 loan
  • Muskegon Family Care; Community Shores Bank: $6,354,257 loan
  • Digitrace Machine Works, LTD and Schaidt, LLC; My Personal Credit Union: $2,050,000 loan
  • Paris North Hardwood Lumber Co. Inc.; Charlevoix State Bank: $2,450,000 loan
  • Hardwoods of Michigan, Inc.; JPMorgan Chase: $7,000,000 loan
  • Bonnymill Inn & Eatery, LLC; Community Bank: $270,000 loan
  • Production Engineering; Ann Arbor State Bank: $5,000,000 loan

Mississippi

  • Pizza Hattiesburg, LLC; Priority One Bank: $5,000,000 loan
  • RBR Enterprise, LLC; Brighton Bank: $2,500,000 loan
  • Shag of Mississippi, Inc.; Magnolia State Bank: $725,000 loan
  • Shag of Mississippi, Inc.; Magnolia State Bank: $750,000 loan
  • Shag of Mississippi, Inc.; Magnolia State Bank: $705,000 loan
  • Southern Components, Inc.; Ridgestone Bank: $5,200,000 loan
  • Ways, Inc; The Union Bank: $7,450,000 loan
  • Rives & Reynolds Lumber Co., Inc; Trustmark National Bank: $5,000,000 loan

Missouri

  • Ozark Physical Therapy; First Midwest Bank: $2,738,000 loan
  • Hutson, Nancy dba Cycle Connection; Metropolitan National Bank: $3,600,000 loan
  • MMEC dba Midwest Metalcraft; Metcalf Bank: $2,026,000 loan
  • Unionville Livestock Market Center; Putnam County State Bank: $995,000 loan

Montana

  • CTA Building Great Falls, LLC; First Interstate Bank: $1,650,000 loan
  • Butte Park Royal, LLC; American Federal Savings Bank: $4,000,000 loan
  • Lonesome Dove Concrete Pumping, LLC / Concrete Materials of Montana, LLC / Greg and Joan Ruby Valley National Bank: $1,600,000 loan
  • Lonesome Dove Concrete Pumping, LLC / Concrete Materials of Montana, LLC / Greg and Joan Ruby Valley National Bank: $6,600,000 loan

Nebraska

  • Salem Grain Company; American National Bank: $1,800,000 loan
  • Allmand Bros., Inc; Bruning State Bank: $7,000,000 loan

New Hampshire

  • Atlantic Safety Products, Inc. and 55 Barnstead, LLC; Meredith Village Savings Bank: $444,000 loan

New York

  • Haley Lumber & Building Supply; Community Bank, N.A.: $500,000 loan
  • Hunter Mountain Ski Bowl, Inc.; Key Bank, N.A: $4,800,000 loan
  • K&S 102, Inc; Community Bank, N.A.: $800,000 loan
  • Little Falls Motel Associates, Inc.; Adirondack Bank: $650,000 loan
  • Mo's Real Estate Holding Company, LLC; Pathfinder Bank: $370,000 loan
  • Mo's Real Estate Holding Company, LLC; Pathfinder Bank: $69,000 loan
  • Mo's Real Estate Holding Company, LLC; Pathfinder Bank: $128,250 loan
  • Tamarind Hotels USA Inc.; Tioga State Bank: $2,950,000 loan
  • McDonough Hardwoods, Inc.; Rome Savings Bank: $703,000 loan
  • McDonough Hardwoods, Inc.; Rome Savings Bank: $1,498,700 loan
  • Nirvana Inc. & Miller Wood Dev. Corp.; Tennessee Commerce Bank: $10,000,000 loan
  • R.D Palmer Enterprises, Inc.; First Niagara Bank, NA: $1,850,000 loan

North Carolina

  • Tobijo Properties, RLLLP; Blueharbor Bank: $2,640,000 loan
  • Chris & Michael Dixon, ADCUT; First Citizens Bank and Trust Company: $432,000 loan
  • New Beginnings Child Day Care Center, Inc I; Fidelity Bank: $525,000 loan
  • New Beginnings Child Day Care Center, Inc III; Fidelity Bank: $1,999,000 loan

North Dakota

  • Walhalla, City of; Choice Financial: $166,000 loan

Ohio

  • Seneca Medical, Inc.; Fifth Third Bank: $2,995,000 loan
  • AWL Transport, Inc.; Portage Community Bank: $3,601,550 loan
  • Ohio Precious Metals, LLC; Peoples Bank: $9,470,000 loan
  • Tack Anew Inc. dba Brands' Marina; The National Bank of Oak Harbor: $2,676,500 loan

Oklahoma

  • JRSL Fam, LLC; First National Bank of Davis: $1,926,000 loan

Puerto Rico

  • Pevafersa America, Inc.; Economic Bank of Puerto Rico: $5,000,000 loan
  • Master Concrete and Aggregates, Corp; Economic Bank of Puerto Rico: $3,000,000 loan
  • D&H Products; Cooperativa De A/C Roosevelt Roads: $2,500,000 loan

Rhode Island

  • Pineapple Inn, LLC; Independence Bank: $1,766,000 loan

South Carolina

  • 201 Overland, LLC dba Emerald Gardens of Greenwood; Business Carolina, Inc.: $2,900,000 loan
  • Altera Polymers, LLC; Appalachian Development Corporation: $1,000,000 loan
  • Barnwell County Hospital; Appalachian Development Corporation: $1,600,000 loan
  • Carolina AAC Development, LLC; ArborOne ACA: $3,370,000 loan
  • Carolina AAC, LLC; ArborOne ACA: $7,068,000 loan
  • Ellis Management, LLC; Carolina First Bank: $1,670,625 loan
  • Generation Group Homes of Greenville, Inc./RTP Realty, LLC; Business Carolina, Inc: $1,950,000 loan
  • Wurster Investment, LLC; Appalachian Development Corporation: $1,662,000 loan
  • CBT Enterprises, LLC; Business Carolina, Inc.: $5,500,000 loan

South Dakota

  • Miner County Development Corporation; Miner County Bank: $3,200,000 loan
  • Dunlavy Ag Services, LLC; Dacotah Bank: $186,000 loan
  • Jennifer Crabtree dba The Crop Company; Dacotah Bank: $71,400 loan

Tennessee

  • Copperweld Bimetallics, LLC; Tennessee Commerce Bank: $5,500,000 loan
  • Irvin Properties, LLC; The Farmers Bank: $528,000 loan
  • Mountain Nursing, LLC; United Western Bank: $2,320,000 loan

Texas

  • Texas Chlor-Alkali, Inc.; Plains State Bank: $10,000,000 loan
  • Jackson Street Warehouse, Inc.; First Financial Bank, N.A.: $3,325,000 loan
  • Chem Eleven Products, Inc.; Plains State Bank: $3,500,000 loan
  • Interstate Ceramic Materials, LLC; Synergy Bank: $3,550,000 loan
  • Terra BioChem, LLC; Iberia Bank: $3,704,000 loan

Utah

  • Azure Elite, LLC; Bank of Utah: $3,704,000 loan
  • APF Power Services; Nevada Commerce Bank: $916,708 loan

Virginia

  • Marion Mold & Tool, Inc.; The Bank of Marion: $800,000 loan
  • Monogram Snacks Martinsville, LLC; Community South Bank: $5,750,000 loan

Washington

  • Washington Alder, LLC; Summit Bank: $8,400,000 loan
  • GR Silicate Nano-Fibers and Carbonates, LLC; Heritage Bank: $3,034,000 loan
  • Lamiglas, Inc. and Posey Properties, LLC; Viking Bank: $2,200,000 loan

West Virginia

  • Moorefield Training Center, Inc.; First United Bank and Trust: $8,000,000 loan

Wisconsin

  • Basic Stainless, Inc. and Sarazin Young Properties, LLC; Peoples State Bank: $2,168,000 loan
  • Yellow Thunder Corporation; Hometown Bank: $1,000,000 loan

President Obama signed The American Recovery and Reinvestment Act of 2009 into law on Feb. 17, 2009. It is designed to jumpstart the nation's economy, create or save millions of jobs, and put a down payment on addressing long-neglected challenges so our country can thrive in the 21st century. The Act includes measures to modernize our nation's infrastructure, enhance energy independence, expand educational opportunities, preserve and improve affordable health care, provide tax relief, and protect those in greatest need.

USDA, through its Rural Development mission area, administers and manages more than 40 housing, business and community infrastructure and facility programs through a national network of 6,100 employees located in 500 state and local offices. These programs are designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America. Rural Development has an existing portfolio of more than $138 billion in loans and loan guarantees.

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