Agralite Electric LoansNorthern Geo, LLC
Category: Agralite, Business, Cooperatives
Northern Geo was awarded financing when Agralite Electric issued a Rural Electric Economic Development, or REED, loan to Northern Geo for expansion of their heatpump manufacturing plant located in Appleton, MN.
Working closely with local banks, other loan funds, state and federal agencies to finance community and economic development projects, Agralite Electric provides gap financing from REED to help business start and expand business, create jobs and help communities improve facilities, services and infrastructure.
Korwin Johnson says that providing funding to Northern Geo 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.”