WASHINGTON- Senator Chuck Grassley today announced that the U.S. Department of Agriculture, Office of Rural Development has awarded a $500,000 direct loan and $1.5 million in loan guarantees to Sheffield Care Center in Sheffield through the Community Facility Direct Loan and Guaranteed Loan Programs.
The Community Facility Direct Loan and Guaranteed Loan Programs assist in the development of essential community facilities in rural areas with less than 20,000 residents.
Sheffield Care Center will use the funds to help construct a 16 unit assisted living facility addition to the existing nursing home. The direct loan will be for 40 years at 4.75 percent interest.