WASHINGTON- Senator Chuck Grassley today said that the U.S. Department of Agriculture, Office of Rural Development has awarded a $4,652,000 conditional commitment for a loan to the Farmers Cooperative Telephone Company in Dysart through the Telecommunications Loan Program.
“These funds will help provide financing for the Farmers Cooperative Telephone Company to upgrade services to Benton and Tama County residents,” Grassley said.
The Farmers Cooperative Telephone Company will use the money to help make upgrades, including a Fiber-to-the-Premises (FTTP) system design to serve subscribers in Benton and Tama Counties.
Each year, thousands of local Iowa organizations, colleges and universities, individuals and state agencies apply for competitive grants and loans from the federal government. The funding is then awarded based on each local organization or individual’s ability to meet criteria set by the federal entity.