18 May 2004

American Samoa in line for development loans

10:42 am on 18 May 2004

Officials of the US Department of Agriculture's Rural Development section, based in Honolulu, have been deciding how to allocate USDA loan and grant assistance.

Those being considered include the American Samoa Community College, LBJ Hospital, the Women's Business Centre and the Development Bank of American Samoa.

The State Director, Lorraine Shinn, said there's funding available to help the community college purchase equipment for their trades courses.

There is also money to allow the Womens' Business Centre to make small business loans and to enable the LBJ Hospital to improve facilities and equipment.

Ms Shinn says her office is close to offering its new home construction loan at one per cent interest in partnership with the Development Bank of American Samoa:

"We're excited because it appears that we have three applications that have passed the preliminary process, and then hopefully we can start funding. I think the amount is about US$40,000, US$60,000 and US$80,000, so something like US$175,000 is what we're looking at for, new construction for homes on American Samoa."