The Coon Creek Fireplace Fee, based mostly in Coon Valley, has been awarded a $356,086 zero-percent mortgage from Vernon Electrical Cooperative. The mortgage is for use towards the funding of the Fee’s new fireplace engine.
Vernon Electrical obtained a Rural Financial Growth Grant within the quantity of $296,500 from the USA Division of Agriculture (USDA). This grant program gives funding for rural initiatives by means of native utility organizations, together with Vernon Electrical.
These USDA funds have been bolstered by Vernon Electrical to supply an interest-free mortgage within the whole quantity of $356,086 to the Coon Creek Fireplace Fee. As the cash is paid again to Vernon Electrical over a 10-year interval, the funds will go right into a revolving mortgage fund that can be utilized to supply future financial improvement loans.
