Boston Omaha unit secures USDA ReConnect loan funding approval for USD 11.48 million

Boston Omaha Corp. Class A

Boston Omaha Corp. Class A

BOC

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  • Boston Omaha guaranteed a USDA Rural Utilities Service ReConnect Program term loan for subsidiary FIF Utah totaling USD 11.48 million.
  • FIF Utah also secured a USD 11.48 million USDA grant to support fiber deployment to about 3,000 locations in qualifying markets.
  • Debt will be drawn in tranches over up to five years; each draw is a 20-year loan priced at the applicable U.S. Treasury rate.
  • Principal, interest payments are deferred for three years per draw; accrued interest amortizes over the remaining loan term.


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