Keuka College secures $11M federal loan
Staff reports
The Chronicle-Express
The USDA-Rural Development loan will be used to purchase Keuka Commons, generating substantial savings for the college
KEUKA PARK – Keuka College has received some long-awaited good news; after an exhaustive review of the college’s financial stability, the U.S. Department of Agriculture has approved a Rural Development Community Facilities loan to the college worth upwards of $11 million.
The approval, which caps a two-plus-year application process, comes with a Letter of Conditions requiring the college to meet a number of obligations before the loan is issued.
“This welcome news could not come at a better time,” said college President Amy Storey. “The pandemic has created all kinds of new challenges for our region. The College has done its best to meet those challenges and this loan will help us continue on that path. The more favorable interest rates provided through this federal loan will
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