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USDA awards loan

LORMAN — Agriculture Secretary Tom Vilsack announced that 37 rural utilities and cooperatives in 29 states have been selected to receive more than $1 billion in loans to build and repair more than 10,000 miles of distribution and transmission lines and make system improvements that will benefit 60,000 rural customers.

In Mississippi, Southwest Mississippi Electric Power Association in Lorman is to receive a loan of $11.726 million. It is the only entity receiving a loan.

The funding is being provided through USDA Rural Development’s Electric Program, which provides loans and loan guarantees to help utilities, cooperatives, states and local governments provide or improve electric service in rural areas. The Electric Program also helps finance energy conservation and renewable energy systems.

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