WASHINGTON — Senator Chuck Grassley said today that the U.S. Department of Agriculture, Office of Rural Development is awarding a $5 million loan to the Grundy Electric Cooperative in Trenton, Missouri which serves the Iowa counties of Wayne and Decatur through the Electric Loan program.
“These funds will help the Grundy Electric Cooperative improve service to its customers in Wayne and Decatur counties,” Grassley said.
The funds will be used to serve 745 new consumers, build 61 miles of new distribution lines, make improvements to 58 miles of distribution lines and to make other system improvements. The $5 million loan will be for 34 years with $210,000 going to Iowa and $4,790,000 going to Missouri.
The Electric Loan program assists rural areas in the financing of construction of electric distribution, transmission, and generation facilities, including system improvements and replacement required to furnish and improve electric service, as well as demand side management, energy conservation programs and on-grid renewable energy systems.