Piedmont Electric Facilitates $70,000 Zero-Interest Loan for Leasburg Volunteer Fire Department
Piedmont Electric Membership Corporation, a cooperative based in Hillsborough, recently facilitated a $70,000 zero-interest loan for the Leasburg Volunteer Fire Department to purchase a new fire truck. The funding is being provided through the United States Department of Agriculture’s Rural Economic Development Loan and Grant (REDLG) program revolving loan fund. Payments from organizations who have received REDLG loans managed by Piedmont Electric in the past are placed into this revolving loan fund, which allows these federal funds to be re-loaned in local rural communities.
The new 2000 International Pumper Tanker is equipped with a 1,250-gallon per minute pump and a 1,000-gallon tank that will enhance the Leasburg VFD’s firefighters’ ability to protect their community. Adding this fire truck to the Leasburg Volunteer Fire Department’s fleet improves their efficiency across their fire district, which covers 2,600 residents.
“This truck is a tremendous asset to our department and the Leasburg community,” Chief Gaither Clayton said. “It will add to our current fleet of two pumper tankers and will increase the amount of water and equipment we have at fire emergencies.”
“We are always proud when we can support a project that improves one of our communities,” said Steve Hamlin, president and CEO of Piedmont Electric. “Supporting our community is one of our seven guiding principles that we have followed since we were founded 80 years ago in 1938. This zero-interest loan program allows us to support our communities far beyond our electric service.”
In the past four years, Piedmont Electric has secured more than $10 million in USDA funding within Alamance, Caswell, Durham, Orange and Person counties for fire trucks, fire stations, ambulances, schools and a library.
More information about REDLG funding and other economic development efforts by cooperatives across the state is available in the In the Community section of our website.