USDA guarantees $7.1 million loan for Alexandria business
WASHINGTON – Congressman Ralph Abraham, M.D., R-Alto, announced Thursday that more than $7.1 million in federal loan money had been guaranteed for the Alexandria-based business Southern Textile Services, LLC.
The guaranteed business and industry loan was approved by the U.S. Department of Agriculture.
“I’m always excited to see when government actually works for the people. This loan will help Southern Textile enhance their business and, in turn, the Alexandria economy,” Dr. Abraham said.
Southern Textile Services was formed in 2006 to provide healthcare textiles to hospitals, nursing homes and other healthcare facilities. It is accredited by the Healthcare Accreditation Council and services Louisiana and Mississippi.
The funds will be used to refinance debt, purchase equipment, renovate buildings and pay capital and fees associated with closing the loan.
Dr. Abraham sits on the House Agriculture Committee. He’s also a member of the Subcommittee on General Farm Commodities and Risk Management and the Subcommittee on Nutrition.