Press Release from Midwest Electric: ST. MARYS, OH — Midwest Electric recently provided a $164,010 loan to Mercer County Commissioners, which will help finance sewer and water infrastructure expansion on State Route 118 on the north end of St. Henry.
This zero-interest loan was initially granted to Midwest Electric from the United States Department of Agriculture (USDA). As Mercer County repays Midwest Electric, those payments go in the co-op’s Economic Development Revolving Loan Fund, serving as a pool of money for future loans to small area businesses and government entities.
Midwest Electric has made more than $2 million in low-interest loans through this program, while supporting regional groups’ economic development efforts, boosting local jobs and quality of life, and lending a helping hand within the co-op’s communities.
To learn more about Midwest Electric’s Revolving Loan Fund, visit https://midwestrec.com/economic-development or call the office at 800-962-3830. Minimum loans are $5,000; other qualifications apply.
Based in St. Marys, Midwest Electric is the not-for-profit, customer-owned electric cooperative serving 11,000 homes, farms, and businesses in Allen, Auglaize, Mercer, Van Wert, Shelby, Putnam, and Darke counties. To learn more, visit www.midwestrec.com.