USDA Issues Electric Loans

Rural utilities and cooperatives in 19 states will receive loans for improvements.

Nearly $677 million in loans is being awarded by the U.S. Department of Agriculture to 20 rural utilities and cooperatives in 19 states for building new electric lines and improving electric systems.

"America's electric co-ops provide a vital service to rural areas, electrifying communities, serving farms, businesses and homeowners," Secretary of Agriculture Ed Schafer said. "Electric co-ops do it with a remarkable track record of reliability. The loans we're announcing will help make system improvements that will benefit consumers across the nation."

Almost 40,000 consumers will benefit from the improvements that these loans will finance. More than 4,200 miles of distribution and transmission lines will be built or repaired as a result of the loans awarded through USDA Rural Development's Utilities Programs, which Congress authorized under the Rural Electrification Act of 1936. Funding of projects is contingent on recipients meeting all conditions of the loan agreement.

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