Burr Announces $6.4 Million in Loans for Mount Airy

Loans to benefit local economy and school

March 16, 2005

Senator Richard Burr today announced $6.4 million in loans for Mount Airy. The loans, a $4 million loan for the Millennium Education Foundation and a $2.4 million loan for Gerard's Bakery, will help increase jobs and educational opportunities in Mount Airy. The loans were made by the United States Department of Agriculture's Rural Development Program.

"It's important that as we work to bring educational and employment opportunities to the state, we remember all of North Carolina - urban, suburban and rural," said Senator Burr. "These loans will bring critical financial support to Mount Airy, providing opportunities to increase jobs and expand a school."

The $4 million loan to the Millenium Education Foundation will be used to construct additional classroom space for the Millennium Charter Academy. The school, which currently enrolls 235 kindergarten through fifth grade students, will use the new space to expand enrollment through the eighth grade.

The $2.4 million loan for Gerard's Bakery in Mount Airy will be used to purchase equipment for a fully integrated bakery facility. With this funding, an estimated 45 new jobs will be created in Mount Airy.

For more information, go to https://www.burr.senate.gov.