Rural electric loans

Photo by lil moe72/Flickr

TRNS – Agriculture Secretary Tom Vilsack announced the distribution of over $400 million in loan guarantees to finance rural electric cooperative projects in 18 states. The loan program, which dates back to the Depression Era, was originally intended to extend electric service to rural areas.

Among projects included in Vilsack’s announcement was a $14.2 million loan to improve 185 miles of distribution line that will serve 153 customers in South Dakota, Montana and North Dakota. It works out to more than $92,000 per customer.

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Posted by Gary on Aug 9 2012. Filed under Economy/Business/Labor. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.