Congressman Bennie Thompson Announces U. S. Department of Agriculture Awards $5 Million to Mississippi Businesses

Press Release

Today, United States Representative Bennie G. Thompson (D-MS) announced the U.S. Department of Agriculture has awarded loan funds to the following:

RECIPIENT/LOCATION

AMOUNT

PROGRAMS

PURPOSE

Central Electric Power Association/

Carthage, MS

$1,000,000

Rural Economic Development Loan and Grant Program

This Rural Development investment will be used to provide Central Electric Power Association the ability to relend to Mississippi Band of Choctaw Indians (MBCI) to assist them in the making improvements to several commercial and industrial facilities owned by MBCI.

Cottonseed Co-Op

Corporation/ Jonestown, MS

$4,000,000

Business and Industry Loan Guarantees

This Rural Development investment will be used to help Cottonseed Co-Op refinance existing debt and pay off accounts payable. The debt refinance will improve the terms of the debt by lowering the interest rate and reducing the borrower's annual debt service obligations.

Source