News

Iowa Scores Big with USDA Loans and Grants

posted on Wednesday, April 24, 2019 in News

Iowa is a leader in securing funds to support business and community projects through the USDAUSDA Logo Rural Economic Development Loan & Grant (REDL&G) program. This was particularly true in 2018. IADG submitted applications on behalf of 30 utility partners, 24 have been funded, for a total of $18,671,792 in federal support. The USDA makes awards throughout the year, so several of the applications are still in contention for approval during upcoming funding cycles. The funds are either pass-through loans or grants that have the added benefit of establishing or enhancing a revolving loan fund that will support projects for years to come.

Here are a few of the recently approved projects from the USDA REDL&G program:

Iowa Specialty Hospital broke ground on a new 8,000 sq. ft. integrated care clinic in Garner.  Iowa Specialty Hospital Check PresentationThis new hospital will fill a critical need for Garner and the surrounding area. It will offer family medicine, occupational medicine, weight-loss management, women’s health, and orthopedics, as well as counseling and therapy through primary care and mental health providers.

Utility: Prairie Energy Cooperative 
REDL: $1 million 
Utility: Corn Belt Power Cooperative 
REDL: $1 million

Monroe County Hospital & Clinic (MCHC) in Albia is in the process of a $20 million expansionMonroe County Hospital & Clinic Groundbreaking Photo project to upgrade its facilities for better access to specialized care and outpatient services. The project includes a more accessible waiting room, new parking, covered entrance, and expanded space for consultations, wellness visits, and specialty clinics; as well as an updated pharmacy and specialty services area.

Utility: Northeast Power Cooperative & Chariton Valley Electric Cooperative 
REDL: $1,172,050 and $1,140,000 
Utility: Northeast Power Cooperative & Chariton Valley Electric Cooperative 
REDG: $273,292 and $300,000 
Match: $54,658 and $60,000 
RLF: Create and Enhance

Henry County Health Center (HCHC) in Mount Pleasant recently held an open house Henry County Health Center Renovation Renderingto showcase its newest renovations to their Orthopedic & General Surgery Clinics, Physicians & Clinics of HCHC, and the Maternity Services Department. The most recent REDL&G support helped with the purchase of a new ambulance for emergency services and the installation of new X-ray equipment to be used extensively by the Emergency Department. Technology improvements and upgrades to the electronic medical record system were also done.

Utility: Northeast Power Cooperative & Access Energy Cooperative
REDG: $600,000 ($300,000 each) 
Match: $120,000 ($60,000 from each) 
RLF: Enhance

St. Mary Parish & School in Humboldt received financial support from both Midland Power  St. Mary Perish Y School RenderingCooperative and Corn Belt Power to assist in building a new addition as well as renovating parts of the existing facility. When complete in 2020, the school and new Parish Center will accommodate more students, increase safety, modernize classroom space, and enhance technology. All providing an excellent learning environment for the students of Humboldt and the surrounding area.

Utility: Midland Power Cooperative 
REDL: $1 million 
Utility: Corn Belt Power Cooperative 
REDG: $300,000 Match: $60,000 
RLF: Enhance

Find out more about the financial incentive packaging that IADG and our partners can assist with.