GAO: REA loans may be financing forays by cable, DBS competitors. (General Accounting Office; Rural Electrification Administration; direct broadcast satellite)
Multichannel News, August, 1993 by Thompson, Rachel W.
Critics of low-cost Rural Electrification Administration loans, particularly cable and satellite companies who compete with REA borrowers in rural markets, will undoubtedly cite a new General Accounting Office report in their efforts to have REA programs curtailed or eliminated. A survey undertaken by the GAO at the behest of Illinois Rep.
John Porter (R) concludes, among other things, that electric and telephone a companies in rural America "may have access to financial resources that independent businesses do not have." Financing from those sources, including 5 percent "insured loans" from REA and supplemental, blended-rate loans from rural and co-op banks, is rarely used to directly finance cable or satellite ventures, the GAO found. But it may free up...
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