Halifax Electric Membership Corporation Issues $300,000 Community Loan
The Arcola Rural Volunteer Fire Department in Warren County recently received a 10-year, $300,000 zero-interest loan from Halifax Electric Membership Corporation to purchase a new E-One Typhoon Rescue Pumper Truck.
The funds were made possible primarily by a $250,000 grant from the United States Department of Agriculture’s Rural Economic Development Loan and Grant (REDLG) program.
“This is Halifax EMC’s first community loan using REDLG funding, and we are proud to support this project,” Halifax EMC Executive Vice President Charles H. Guerry said. “The cooperative’s structure was created to support the community. This zero-interest loan program allows us to support our communities far beyond our electric service.”
REDLG funds were awarded to Halifax EMC for their recently established Community Loan program. In total, North Carolina electric co-ops have channeled more than $50 million in funds to communities, supporting the creation of more than 2,500 jobs.