Access Energy Cooperate has awarded Fairfield Economic Development Association a $65,000 no interest loan to help fund the installation of a sewer main at FEDA’s new Business Park along 227th St. The loan is part of Access Energy’s existing revolving loan fund designed to support business growth in southeast Iowa, which was developed through a matching grant program of the USDA. FEDA Director Adam Plagge noted, “Access Energy Cooperative has been a vital partner in the new business park’s development, particularly with their assistance on the sewer expansion, as well as their plans to bring 3 phase electrical service to the park later this year.” Drish Construction is expecting to start work on the sewer line September 1st and complete the project by the end of the month.
Additional activity in the cooperative’s revolving loan fund program this month included a loan closing with Elements Family Therapy, LLC, for $93,400 loan for a new business startup in Mt. Pleasant. The cooperative also closed on a $316,612 loan to MPC, of Mt. Pleasant for an expansion project.
Access Energy Cooperative plays an active role in the development of rural Iowa. To reflect its commitment, Access Energy Cooperative created the Community/Economic Development Revolving Loan Fund (RLF) to improve the quality of life in rural southeast Iowa by contributing to long-term improvements in the local economy. The RLF is a local funding source with a goal of providing low interest loans to assist with local economic and community development projects.
Our priorities include job creation and retention, diversification of the economy, improving the education and skills of the rural workforce, and upgrading the public infrastructure to improve the health, safety, and/or medical care of rural residents. This fund is administered, operated and maintained by the Access Energy Cooperative Board of Directors.
More information about the program can be reviewed here.