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According to my friend who blogs for www.freshloan.co.uk – the US Department of Agriculture (USDA) announced Wednesday that an $81 million broadband stimulus grant and a $35 million government backed loan to Springfield-based Vermont Telephone Company (VTel).
The $35,166,081 loan and $81,664,754 grant to VTel Wireless, Inc for their Wireless Open World (WOW) project is one of 49 broadband infrastructure projects announced nationally. The broadband investments will give rural residents in 29 states access to improved service that will expand economic, health care, educational, and many other opportunities to underserved rural communities. Today’s announcement is part of the second round of USDA broadband funding through the American Recovery and Reinvestment Act (Recovery Act).