16 May 2015
FOR IMMEDIATE RELEASE:
Contact: Tim McIntyre
Lake Region Electric Cooperative, Inc.
Sun Dial Manor, Inc. Receives Loan from Lake Region Electric’s REED Fund
Sun Dial Manor, Inc. was recently given a helpful hand on 7/9/2014 when Lake Region Electric Cooperative, Inc. issued a Rural Electric Economic Development, or REED, loan. The funds will be used to purchase and install a new generator to assure the safety of the residents during a power outage.
Working closely with local banks, other loan funds, state and federal agencies to finance community and economic development projects, Lake Region Electric provides gap financing through REED to help business start or expand, create jobs and help communities improve facilities, services and infrastructure.
Lake Region Electric Coop Manager, Tim McIntyre, says that providing funding to Sun Dial Manor is a great opportunity to positively impact the lives of many. “In today’s economy, employment and economic development continues to be challenging, so being able to assist through the REED Fund is very gratifying for us, knowing we are making a difference in our small communities and rural areas.”
Approximately 88 percent of REED’s lending is established in communities of less than 4,000 people and 95 percent of REED-financed projects have local ownership.
“One of Lake Regions’s core principles is Commitment to Community and the REED Fund is a good example of how we support local economic development,” says McIntyre.
If you are planning a new business or looking to expand, or if your community needs financing for facilities or services, please contact Lake Region Electric at 605-345-3379 for an application or REED at (605) 256-4536 for more information.