USDA Will Hit Deadline For Broadband Grants/Loans

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The United States Department of Agriculture has yet to hand out all of its broadband stimulus money, but will meet the Sept. 30 deadline, according to a spokesman for the Rural Utilities Service.

RUS is handing out $2.5 billion in grants and loans for rural broadband in unserved and underserved areas. It has so far disseminated $3.6 billion worth of buying power (counting investments leveraged by the loans) to 307 projects.

The National Telecommunications & Information Administration Monday finished allocating its portion of the original $7.2 billion in funds.

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