USDA Extends Another $31 Million in Federal Loans and Grants to Electric Cooperatives
The U.S. Department of Agriculture (USDA) recently announced the extension of $31 million more in loans and grants to electric cooperatives in 12 states under the Rural Economic Development Loan and Grant (REDLG) Program. The USDA’s REDLG program extends zero-interest loans and grants to utilities, which then lend the funds to local businesses for job-creating projects in rural areas. The REDLG program has helped create or save approximately 32,000 jobs under the Obama Administration by providing nearly $338 million in economic development assistance. Read more.