|More Than $1 Million in Loans and Grants to Iowa from USDA|
|News Releases - Business, Economy & Finance|
|Written by Grassley Press|
|Monday, 24 May 2010 12:39|
WASHINGTON - Chuck Grassley today said that the U.S. Department of Agriculture, Office of Rural Development has awarded 12 loans totaling $565,963 and 12 grants totaling $521,526 to Iowa through the Rural Energy for America Program (REAP).
“REAP funding helps promote the use of safe, renewable energy which will lessen our dependence on foreign oil,” Grassley said. “That’s good for Iowa and it’s good for America.”
The Office of Rural Development will distribute the funds as shown below organized alphabetically by town. All funds are being used to purchase and/or install energy efficient grain drying systems.
· Kerrigan Bros. in Afton will receive a $49,801 loan and a $49,801 grant
· John Hayek in Clutier will receive a $42,919 loan and a $42,919 grant
· WE Inc Grain Dryer Project in Fonda will receive a $42,486 loan and a $42,486 grant
· Todd Christians in Kanawha will receive an $88,874 loan and a $44,437 grant
· Benton Grain Company in Keystone will receive a $49,941 loan and a $49,941 grant
· Craig Hupfeld in Liscomb will receive a $47,510 loan and a $47,510 grant
· Marcydu, Inc. in Monticello will receive a $40,215 loan and a $40,215 grant
· Carl Ries in Monticello will receive a $45,938 loan and a $45,938 grant
· S & J Lawler, Inc. in Ogden will receive a $49,550 loan and a $49,550 grant
· Clark Yeager in Ottumwa will receive a $49,245 loan and a $49,245 grant
· Richard Homan in Remsen will receive a $33,584 loan and a $33,584 grant
· Ronald Schnoor in Stockton will receive a $25,902 loan and a $25,902 grant
According to the USDA, REAP funds are used to promote investments in renewable energy, such as bioenergy, geothermal, hydrogen, solar, wind and hydro power, and energy efficiency projects.
Each year, thousands of local Iowa organizations, colleges and universities, individuals and state agencies apply for competitive grants from the federal government. The funding is then awarded based on each local organization or individual’s ability to meet criteria set by the federal entity.
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