News

IADG Utility Sponsored RLF Spotlight

posted on Friday, October 13, 2017 in News

Iowa Utility-sponsored Revolving Loan Funds (RLFs) have contributed greatly to community infrastructure, business growth and job creation in Iowa.

IADG’s sponsoring utilities have had great success in securing funds to support development projects through the USDA Rural Economic Development Loan and Grant (REDL&G) program. Grants received from the REDL&G

program require a local match, which then is used to form or enhance an RLF, support rural job creation and community facility projects. 2016 RLF activity includes:

IADG Utility Partners Operating RLFs:

  • 39 Rural Electric Cooperatives
  • 8 Municipal Utilities
  • 18 Independent Telecommunications CompaniesChart showing the breakdown of RLF Funding for 2016

2016 Activity

  • $12.5M – Total amount loaned for initial REDL&G awards, RLF subsequent loans and IRP loans
  • $92.2M – Total investment leveraged
  • 1,143 – Total jobs created/retained