Shawnee Telephone receives $30 million in low-cost loan money

</element><element id="paragraph-1" type="body"><![CDATA[Agriculture Secretary Tom Vilsack has announced funding for 28 telephone utilities to build, expand and improve broadband in their rural service territories across 18 states.

Four Illinois telephone companies, including Shawnee Telephone Company, were selected to receive funding for broadband deployment or improvements.

The four companies serve customers in southeastern, west central, south central and north central Illinois. They will receive low cost loans totaling more than $44 million.

Shawnee Telephone Company, serving communities in southeastern Illinois for more than 50 years, will receive $30,286,000 in loan funds to construct FTTP (Fiber-To-The-Premises) facilities, allowing Shawnee to provide voice and data services at speeds of up to 100 Mbps to both residences and businesses.

In 2010, Shawnee Telephone Company received $7.3 million in loan and grant funds from USDA Rural Development to expand broadband service to customers in Pope and Hardin counties.

"Today's funding will provide residents of these rural communities with high speed internet connections to improve healthcare and educational opportunities and connect to global markets," Vilsack said.

"In addition to providing much needed services to rural businesses and residents, these investments will increase jobs, not just in the near term, but through expanded opportunities in rural areas."

"I congratulate the Illinois telephone companies for their efforts to bring broadband to our rural communities and remote locations," said Colleen Callahan, state director for Rural Development in Illinois.

"They are making significant investments, and USDA Rural Development is proud to be part of their efforts."

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Headquartered in Colchester, McDonough Telephone Cooperative Inc. was selected to receive $15,728,000 in loan funds to upgrade their rural services with Fiber-To-The-Home (FTTH) technology. </li>

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McNabb Telephone Company, serving the village of McNabb and the surrounding area in parts of Putnam and LaSalle counties, will receive $3,700,000 in loan funds to make system improvements, including constructing new FTTP facilities.</li>

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Wabash Telephone Cooperative Inc. was selected to receive a $21,867,000 loan to install 777 miles of buried fiber optic cables and related equipment throughout the proposed FTTP system. The FTTP system will enhance service to 70 percent of Wabash's subscribers.</li>

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Funding for each project is contingent upon the recipient meeting the terms of the loan agreement.</li>

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