Revolving Loan Fund
Loans for Community Development
Eligible Loan Recipient
- New or expanding private businesses
- Not-for-profit entities
- City or county governments
Eligible Uses of Funds
- Land purchases
- Machinery and equipment
- Fixed assets
- Buildings
Ineligible Uses of Funds
- Speculation land purchases
- Payments to owners or equity investors
- Debt refinancing
- Projects that lack economic development potential
Loan Review Committee
The Loan Review Committee and the WCCTA Board of Directors consider the financial need of the project, the probability of success, and the benefits of the project to the rural area (including number of jobs to be created or retained, diversification of the economy, quality job creation in terms of pay scale and benefit package, and community development projects and improvements to the community infrastructure).
Please contact the office at Webster-Calhoun Cooperative Telephone Association directly at 515-352-3151 for more information.
WCCTA Awarded $300,000 USDA Grant
Stewart Memorial Community Hospital
SMCH of Lake City, Iowa began a $860,000 fundraising effort in December, 2016 for their Patient Centered Healing Environment Project to improve areas used by most patients in Lake City, Rockwell City, Lake View and Gowrie medical clinics. A welcomed boost of $360,000 towards the project has just been announced.
“The project budget that will create the patient centered healing environment in all four of our clinics is $860,000,” says Cindy Carstens, CEO at SMCH.
We are committed to providing quality healthcare to the communities we serve. Through funding partnerships such as the one with Webster Calhoun Telephone Association our communities will continue to have the benefit of receiving care locally and an exceptional patient experience in our clinics. Efforts will continue to secure additional funds for the project as we move forward with the ADA updates this fall and interior upgrades.
“WCCTA is committed to providing not only quality broadband, digital tv and phone services to our communities. We have a true commitment in providing resources such as the revolving loan fund to enhance projects for the betterment of the communities we serve.” – Marcie Boerner
USDA Rural Economic Development Loan and Grant Program
The Rural Economic Development Loan and Grant program provides funding for rural projects through local utility organizations such as WCCTA. USDA provides zero-interest loans to local utilities which they, in turn, pass through to local businesses (ultimate recipients) for projects that will create and retain employment in rural areas. The ultimate recipients repay the lending utility directly and then the utility reloans the funds for other community projects.
USDA provides grants to local utility organizations which use the funding to establish revolving loan funds (RLF). Loans are made from the revolving loan funds to projects that will create or retain rural jobs.
Gowrie Fire Board Agency
Webster-Calhoun Cooperative Telephone Association is proud to support the Gowrie Volunteer Fire Department through our Revolving Loan Fund, established in 2017 with USDA assistance to enhance rural quality of life. This funding will help replace the department’s aging 1995 tanker truck with a new Heiman WaterKing I tanker on a 2024 Freightliner chassis, greatly improving emergency response capabilities. With several WCCTA employees also serving as volunteer firefighters, this investment reflects our deep commitment to the safety, strength, and well-being of the communities we serve.
Southwest Webster Ambulance
Webster-Calhoun Cooperative Telephone Association secured a $300,000 USDA grant through the Rural Economic Development Loan and Grant Program, along with committing $30,000 of our own funds—matched by Aureon’s Ripple Effect grant—to bolster our Revolving Loan Fund, now totaling approximately $720,000. This new zero-percent interest loan will support the Southwest Webster Ambulance’s construction of a modern building to house two ambulance units plus training and office space, enabling us to reinvest repaid funds back into future rural economic and community development initiatives.