The city of Currie was recently presented a zero-percent interest loan thanks to Nobles Cooperative Electric (NCE) and the U.S. Department of Agriculture’s (USDA) Rural Economic Development Loan and Grant (REDLG) program. Currie was loaned $158,991 to help build a new fire hall.
USDA Rural Development provides loans and grants to help expand economic opportunities and create jobs in rural areas. It is available for those who apply through a Rural Utilities Service borrower, such as NCE. The USDA provides these funds to local utility organizations to establish revolving loan funds. As the Ccty of Currie pays back their loan, this money goes into a revolving loan fund to assist other organizations for economic development.
“We are thrilled to be able to facilitate this loan,” NCE General Manager Adam Tromblay said. “It is important for us to invest in our rural communities. The cooperative is happy to act as the intermediary through the USDA REDLG programs.”