PARIS – A ceremony Wednesday at the Western Maine University and Community College Center celebrated a $500,000 loan to Western Maine Finance.

The $500,000 Intermediary Relending Program loan is from the U.S. Department of Agriculture’s Rural Development agency. It will be used to provide low-interest loans to public and nonprofit organizations to re-lend for business and community development.

Officials attending included Michael W. Aube, state director, USDA Rural Development; Michael W. Grondin, business programs director, USDA Rural Development; Brett Doney, president and chief executive officer, Western Maine Finance; Bob Shinners, vice president, Western Maine Finance; Barbara Olsen, vice president, Growth Council of Oxford Hills; Tim Trafford of U.S. Rep. Michael Michaud’s office; Diane Jackson, representing U.S. Sen. Olympia J. Snowe; and Sarah McCarthy, representing U.S. Sen. Susan M. Collins.

Western Maine Finance supports business transition, start-ups and expansion in the area.

While in the area, the Rural Development officials toured two businesses that have borrowed money through the program: Bancroft Contracting Corp. of South Paris and Oxford Homes in Oxford.

Bancroft Contracting provides construction services to markets that include the transportation, heavy industrial and commercial sectors.

Oxford Homes manufactures modular single and multi-family residences, as well as various commercial projects. Oxford Homes has built more than 7,000 single-family residences since beginning production in 1977.