USDA Plans to Increase Lending Opportunities for Broadband

usdaCoBank, a cooperative bank, recently committed $10 billion to the new U.S. Rural Infrastructure Opportunity Fund. Teaming with the U.S. Department of Agriculture (USDA), CoBank will serve as the anchor investor with Capitol Peak Asset Management to manage the fund.  

The co-investments are designed to complement existing government loans and grant programs to provide:

  • Recruiting new sources of private capitol to support rural infrastructure projects
  • Serving as a co-lender for borrowers financing projects where the government’s program limits or resource constraints warrant the fund’s involvement
  • Private lending in support of projects capable of meeting market terms.

Target projects eligible for this lending opportunity will include rural community facilities, water and wastewater systems, rural energy projects and rural broadband.  A case-by-case selection will be completed to determine the projects that receive loans.

Click here to see news release from CoBank