Great River Energy hosts USDA REDLG webinar for co-ops

Great River Energy recently hosted a webinar featuring Naomi Lenz, Minnesota Rural Business Services State Office Specialist for the United Stated Department of Agriculture (USDA), for employees of its 28 member-owner cooperatives.

Lenz provided a detailed overview of the USDA Rural Economic Development Loan & Grant Program (REDLG), which allows electric cooperatives to apply for low- or no-interest loan financing for eligible economic development projects in their service areas.

All of Great River Energy’s member-owner cooperatives have at least of a portion of their service area in USDA-eligible economic development areas capable of accessing REDLG funds. Around half these cooperatives are also actively leveraging USDA-backed revolving loan funds to help support small business and entrepreneurial growth in the communities they serve.

The May webinar attracted more than 36 participants from 19 Great River Energy member-owner cooperatives.

“Based on the amount of positive feedback we received from participants, our team will look to organize similar webinars and live events in the future, covering topics like economic development marketing, navigating the USDA’s lender network connection system and others,” said Jeff Borling, economic development lead at Great River Energy.

If you are a member-owner cooperative with questions or ideas for future webinars, or if you are a project leader interested in leveraging USDA REDLG funds in your community, please contact Tom Lambrecht, Erin Sparks or Jeff Borling today.

To receive a link to the webinar recording from the USDA REDLG training on May 4, please contact Borling.