WASHINGTON, DC-U.S. Senators Bob Casey (D-PA) and Arlen Specter (D-PA) today announced that the U.S. Department of Agriculture (USDA) has awarded $1,145,000 to two rural central Pennsylvania businesses to provide economic opportunities and promote job creation. The funding is available through the American Recovery and Reinvestment Act.
“Rural areas in Pennsylvania and across the country have been some of the hardest hit by the economic downturn,” said Senator Casey. “Giving rural businesses access to capital allows them to hire more workers and support their local communities.”
“These loan guarantees offer significant federal support for Keystone Contracting and Susquehanna Trail Solar,” said Senator Specter. “This news will encourage job growth in Pennsylvania and act as a boon to our rural economies.”
The funding is part of $101.6 million in loan guarantees for 44 projects in 24 states announced today through USDA Rural Development’s Business and Industry Guaranteed Loan Program. The Business and Industry Guaranteed Loan Program received $1.57 billion in Recovery Act funding to help rural businesses stimulate their economies and support their communities. 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.
Keystone Contracting in Perry County has been guaranteed a loan of $500,000 through the First National Bank of Marysville. Susquehanna Trail Solar in Northumberland County will receive a loan of $645,000 through Woodlands Bank.
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