Riverland Energy Cooperative supports economic development in its service territory and works closely with economic development groups and chambers of commerce to retain, expand, and attract businesses to our communities.
USDA Rural Economic Development Loan Program (REDLG)
The co-op participates in the Rural Economic Development Loan Program through the United States of Agriculture (USDA). REDLG is a zero interest loan program used to help fund local business projects that will create or retain jobs in rural areas. Funds can be used for business financing (buildings, improvements, etc.), infrastructure (sewer, water, streets, rail), health care (hospitals, clinics, assisted living), business incubators, and educational facilities.
Revolving Loan Fund Program
REC has its own revolving loan fund used to provide loans to local businesses. The Revolving Loan Fund provides businesses and community project financing in partnership with commercial and other economic development lenders. Loans can be made for for-profit businesses, not-for-profit organizations and local governments.