Show EOA Program Helps Business Six families in the Sanpete County area have received loans to establish new business business busi busi- ness enterprises through the Economic Opportunity Act according ac sac sac- cording to Clyde K Cox Farmers Home Administration county supervisor A C grade dairy farmer a woodcraft and repair shop operator and a household goods salesman are among the rural people established in their skills by the Economic Opportunity loan program in inthe the ithe campaign against poverty During the first five months of the new loan program Farmers Home Administration has advanced some to six farm and rural families in inthe inthe inthe the Sanpete County area These loans are designed to help bring about an increased income and higher standard of tf living for farm and rural familIes families fam fam- participating in the pro pro- gram Economic Opportunity loans offer credit help for the first time to many low income rural families who previously were unable to obtain credit to improve improve im dm im- im prove their earnings Loans also are available to rural coope cooperatives serving the low income families and providing providing pro pro- viding services and facilities not otherwise available Borrowers are provided continuing continuing continuing con con- management aid to help them make a 13 a success of farming enterprise or new business Farmers Home Administration tion a US U.S. Department of Agriculture Agriculture Agriculture Ag Ag- agency is administering administering administering adminis adminis- the new loan service Liberalized loan terms and conditions for participating low income families allows for foran foran foran an interest rate of 4 8 41 8 1 per cent Loans in amounts up up to 2500 are made to individual families with 15 years for repayment re re- re- re payment To be eligible for the new ru rural 1 l credit service an applicant applicant applicant cant must live in ina a rural area have an income that does not cover basic family living expenses expenses expenses ex ex- be unable to obtain credit from other sources including in in- including the regular loan program program pro pro- gram of Farmers Home Administration Administration Administration Ad Ad- ministration and arid show a reasonable reasonable rea rea- promise of succeeding in the enterprise to be financed financed finan finan- ced by the loan A cooperative to be eligible must be primarily composed C cf of and ard serve low income ru rural al families and be unable to obtain obtain obtain ob ob- tain needed credit from other sources A total of has been advanced to 37 borrowers under under under un un- der the economic opportunity loan program in Utah Utah |