Egyptian Electric secures REDLG monies
Kinkaid-Reed Creek’s Conservancy District and Pinckneyville Community Hospital were recently presented zero-percent interest loans thanks to Egyptian Electric Cooperative Association (EECA) and the U.S. Department of Agriculture’s (USDA) Rural Economic Development Loan and Grant (REDLG) program.
“We are thankful to be able to facilitate these loans to those in our community,” said EECA General Manager Shane Hermetz. “It is important for us to invest in our very own rural communities, and the cooperative is happy to act as the intermediary through the USDA REDLG programs.”
Kinkaid-Reed Creek’s Conservancy District was loaned $268,000 for energy efficiency measures at its Kinkaid Area Water System Plant in Murphysboro.
Pinckneyville Community Hospital was loaned $1 million for hospital additions and expansions at its Pinckneyville location.
EECA has assisted in attaining REDLG loans for a total of five
organizations in its service area. The co-op passes through the loan monies received from USDA to qualified member or non-member taxing entities within its service territory.
USDA Rural Development provides loans and grants to help expand economic opportunities and create jobs in rural areas. The funding for these projects is part of the REDLG program to support rural business.