Highline Electric has played an active role in the development of our rural communities. Through its board and staff, Highline Electric has provided both leadership and financial participation in the economic development and business expansion of our service territory. Three different loan options, explained below, are available through Highline Electric: Revolving Loan Fund, Rural Economic Development Loan & Grant Program and Rural Energy Savings Program.
Loan Assistance
Revolving Loan Fund (RLF)
Through the creation of a Revolving Loan Fund (RLF), Highline Electric is seeking to improve the quality of life in rural areas by helping to leverage projects that create and retain job opportunities for rural residents; that provide technical assistance, education, or medical care to rural businesses or rural residents; that further the use of advanced telecommunications services and computer networks for medical, educational, and job training services; and that upgrade the public infrastructure to improve the economic potential of rural areas and the health, safety, and medical care of rural residents.
Rural Economic Development Loan & Grant Program (REDLG)
The Rural Economic Development Loan (REDL) and Grant (REDG) programs provide funding to rural projects through local utility organizations. Under the REDLoan program, USDA provides zero interest loans to local utilities which they, in turn, pass through to local businesses (ultimate recipients) for projects that will create and retain employment in rural areas. The ultimate recipients repay the lending utility directly. The utility is responsible for repayment to the Agency.
Under the REDGrant program, USDA provides grant funds to local utility organizations which use the funding to establish revolving loan funds (RLF). Loans are made from the revolving loan funds to projects that will create or retain rural jobs. When the revolving loan fund is terminated, the grant is repaid to the Agency.