2 Jun 2016
FOR IMMEDIATE RELEASE:
Contact: Tim O’Leary
Lyon-Lincoln Electric Cooperative
Southwest Regional Development Commission Receives $150,000 Loan from Lyon-Lincoln Electric Cooperative REED Fund
Southwest Regional Development Commission was recently given a helpful hand on February 27, 2014 when Lyon-Lincoln Electric Cooperative issued a $150,000 Rural Electric Economic Development, or REED, loan to Southwest Regional Development Commission.
The funds will be used to establish a pilot program for energy efficiency projects.
(Potential quote from business owner/organization representative here—stating how appreciative they are to have received the loan)
Working closely with local banks, other loan funds, state and federal agencies to finance community and economic development projects, Lyon-Lincoln Electric Cooperative provides gap financing from REED to help business start and expand business, create jobs and help communities improve facilities, services and infrastructure.
According to Tim O’Leary, General Manager of Lyon-Lincoln, “Providing funding to Southwest Regional Development Commission is an opportunity to support energy efficiency programs. In today’s economy, employment and economic development continues to be challenging. The REED Fund allows us to make 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 Lyon-Lincoln Electric Cooperative core principles is Commitment to Community and the REED Fund is a good example of how we support local economic development,” says Tim O’Leary.
If you are planning a new business or looking to expand, or if your community needs financing for facilities or services, please contact Lyon-Lincoln Electric Cooperative at 507-247-5505 for an application or REED at (605) 256-4536 for more information.