USDA awards more than $8 million in REDLG funds
The United States Department of Agriculture (USDA) awarded $8,447,840 in Rural Economic Development Loan and Grant (REDLG) funds to Illinois co-ops during fiscal year 2020. One grant and 12 loans, including one in a persistent poverty county, were allocated.
The REDLG monies are granted to cooperatives which in turn loan the funds to rural businesses and non-profits including hospitals and water treatment facilities and to encourage small business expansion. Participating 2020 cooperatives are Corn Belt Energy Corporation, Bloomington; Egyptian Electric Cooperative Association, Murphysboro; M.J.M. Electric Cooperative, Carlinville; Monroe County Electric Cooperative, Waterloo; Wabash Telephone Cooperative, Inc., Louisville; Wayne-White Counties Electric Cooperative, Inc., Fairfield; Hamilton County Telephone Co-op, Dahlgren; and Western Illinois Electrical Coop., Carthage.