NM coop to get federal telecommunication loan

TATUM, N.M. (AP) - The LEACO Rural Telephone Cooperative is being awarded a federal loan worth more than $57 million to bring new and improved telecommunication services to rural Lea County.

The Hobbs-based cooperative will be presented with a check during a special ceremony Monday in Tatum that will also celebrate the 60th anniversary of the U.S. Department of Agriculture's Rural Development telecommunications program.

USDA Rural Development state director Terry Brunner says the loan is representative of the agency's commitment to rural America.

Brunner says over the last six decades the agency has provided $462 million dollars in loans and grants to build the infrastructure for communications in rural communities across New Mexico.

The loan to LEACO is being made through the Rural Development Broadband Loan and Loan Guarantee Program.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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