Alger-Delta Electrical Loan
A U.P. power company is getting a huge federal loan to help make improvements to the electrical grid.
The Alger-Delta Electric Co-Op is getting $7 million in loans.
It’s one of 33 rural utilities in 26 states receiving loans from the Department of Agriculture.
The loans come out to $1.8 billion nationally.
Alger-Delta can use the money to do things like build new power lines, repair existing lines or buy electric meters and transformers.
The loans should provide for more than 7,500 miles of new or repaired lines around the country.
USDA officials say they make the loans because they’re investments that spur economic development and make rural areas better places to live and work.