DENVER—A U.S. House committee is asking for a briefing on a $267 million government loan to a Colorado-based company that has filed for bankruptcy protection.
Open Range Communications Inc. is a high-speed, wireless Internet services provider based in Greenwood Village. It received the loan in 2008 from the U.S. Department of Agriculture’s Rural Utilities Service, which is working to expand high-speed Internet access to rural communities.
Open Range filed for Chapter 11 bankruptcy protection last month, listing $114 million in assets and $110 million in debts. The Denver Post reports ( ) the balance of Open Range’s loan is $73.5 million.
Rep. Diana DeGette of Colorado is among the House members seeking a briefing and documents from the Rural Utilities Service to explain the agency’s process for reviewing the loan application.
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Information from: The Denver Post,
