Garkane's Board of Directors and Management have reviewed a multitude of ideas to assist with the economic development within its service territory. The biggest obstacle, however, for economic development has been funding.
The following program can help a community's economic development plan become a reality. The Rural Economic Development Loan & Grant program (REDL&G - pronounced REDLEG) provides USDA loans and/or grants to Rural Utility Service borrowers (like Garkane Energy) who are willing to pass-through those funds to worthy economic development projects within Garkane's service area. From the creation of jobs to the maintenance of public health, REDL&G is a flexible financing resource that channels federal loans and grants through rural utilities to economic development and job creation projects.
The main purpose of the REDL&G program is to provide new or existing business with low interest financing. Such financing can enable a business to get off the ground and flourish. Garkane servces as a facilitator with USDA to assist qualifying businesses with the resources to make economic development plans a reality. A scoring sheet is attached detailing scoring factors for your review.