Allo Communications is among 12 rural businesses nationwide to benefit from loan guarantees via the American Recovery and Reinvestment Act of 2009, better known as stimulus funding.
Announcement of the loan guarantee recipients was made last Friday by U.S. Ag Secretary Tom Vilsack.
Allo, headquartered in Imperial, will receive a $5.7 million loan, allowing it to expand its telephone, internet and video services to residential customers in western Nebraska.
The company’s loan will come through Adams Bank & Trust of Imperial.
Brad Moline, president of Allo, said he is excited about the opportunities this loan will create.
“Allo will use the funds to expand our fiber network infrastructure and improve residential and business services in Scottsbluff, Gering, Alliance and Ogallala,” he said.
“This will bring our customers world-class communications capabilities unmatched in Nebraska and competitive not only on a national scale but internationally, as well,” Moline said.
Stimulus funds will guarantee the loan. Nebraska Sen. Ben Nelson said such projects “help keep our rural communities strong and attractive places to live.”
Allo is just one of two Nebraska businesses to receive the loan guarantees.
The other one, Schilling Bridge in Pawnee City, will receive a $93,600 loan through State Bank of Table Rock to purchase bottling equipment for a winery and microbrewery.
Other U.S. businesses receiving the stimulus funding-backed loan guarantees are located in Alabama, Maine, Minnesota, North Carolina, Ohio, Oregon and Wisconsin.
The 12 projects will leverage $5.6 million in private sector investments, in addition to the USDA Rural Development assistance, according to USDA officials.