Show UTAH FAMILIES USE OPPORTUNITY LOANS Working their way up from the poverty income level isn't the easiest thing to do but rural families in Utah started the climb upwards in the past year with the help of economic opportunity opportunity opportunity loans according to Douglas Doug Doug- las T. T Simpson Farmers Home Administration State Director Simpson reported this week on progress of the opportunity loan program administered by the USDA Farmers Home Administration Administration Administration Adminis Adminis- for the Office of Economic Economic Economic Eco Eco- Opportunity The program saw loans totaling advanced to families in the lowest income group to provide tools supplies equipment equipments and working space needed to earn a better living Since the program began in January 1965 loans totaling have been made to families throughout Utah S Simpson said the economic opportunity opportunity opportunity op op- loan borrowers are developing developing developing de de- de- de more than 72 different kinds kinds' of nonagricultural enterprises enterprises enterprises enter enter- in addition to farming Loans average 2181 a family with a maximum of in effect The most difficult hurdle these families face Simpson ex explains lains has been lack of money to equip themselves properly for profitable profitable profitable profit profit- able work We hope Simpson continued continued continued contin contin- the economic opportunity loans will help them overcome this obstacle The loans actually stake them to the things they need for a profitable farming enterprise enterprise enterprise en en- or to increase their income income in income in- in come by following a tra trade e or performing a service needed in their communities Is the program working Simpson feels that it has gotten off to a good start and is continuing continuing continuing con con- to pick up momentum I can cite many many examples examples examples exam exam- ples of borrowers who are working working working work work- ing their way up the economic ladder and furthermore they are paying back their loans The OEO has delegated loan- loan making under the program to the Farmers Home Administration Adminis ration ra- ra tion which has a network of 1600 county offices throughout the country to serve rural people people people peo peo- lacking other sources of credit credit credit cre cre- dit for farming and small enterprises enterprises enterprises enter enter- to boost substandard fam fam- ily income According to Clyde K Cox I Supervisor sor and Richard Q Q Macfarlane Macfarlane Macfarlane Mac- Mac farlane Assistant Supervisor in inthe inthe inthe the Manti ManU office the Farmers Home Administration located in Manti ManU has closed 19 economic opportunity loans totaling at an average loan of 1930 Loans have been made in the Manti ManU office to purchase livestock livestock livestock live live- stock farm equipment beauty shop equipment and purchase of small farm tracts Economic opportunity loans are doing a fine job Supervisor Cox said in helping low-income low rural people overcome their most common handicap handicap- a lack Jack of money or credit to equip themselves for the more profitable profitable profitable profit profit- able work they might do if they had the tools The loans stake them to the things they need for a profitable farming enterprise or to increase their income by following a trade or performing a service needed neede in their home ties Loans for Sanpete County are processed through the Manti ManU office Post Office Building Manti Utah |