Cedar Grove Volunteer Fire Department Receives a $360,000 Zero-Interest Loan for Fire Truck

Cedar Grove, NC (February 15, 2019) – The Cedar Grove Volunteer Fire Department received a $360,000 zero-interest loan to purchase a new fire truck. Piedmont Electric Membership Corporation is playing a supporting role in this purchase by facilitating this loan funded from the United States Department of Agriculture’s (USDA) Rural Economic Development Loan and Grant (REDLG) program.

This new fire truck will assist the 34 Cedar Grove volunteer fire fighters with saving life and property across one of the largest fire districts in Orange County. The new engine will replace a 17-year-old fire truck at the fire station off Pentecost Road and help maintain their 6/9E ISO rating.

“With this zero-interest loan, we were able to update our current fire engine at one station with the intention of replacing another engine within the next five years,” said Chief Jeffrey Borland. “With several other upcoming expenses like replacing tires on our current tankers, this zero-interest loan has been beneficial in updating equipment.”

The funds for this truck came from the USDA REDLG program facilitated by Piedmont Electric. The program provides zero-interest funds from the federal government to local electric cooperatives who in turn lend the money to local entities for projects that support rural areas.

“We are proud to provide this opportunity to improve the quality of life in one of the communities we serve,” said Steve Hamlin, Piedmont Electric President and CEO. “As a locally owned co-op, it is our mission to support the communities we serve. This zero-interest loan program allows us to support our communities far beyond our electric service by partnering with the USDA and helping bring in federal money.”

In the past several years, Piedmont Electric has secured more than $12 million in USDA funding within Orange, Alamance, Caswell, Durham and Person counties for fire trucks, fire stations, ambulances, schools and a public library. As the funds are repaid they are re-loaned to assist with future projects in communities served by Piedmont Electric.

Piedmont Electric is a local, member-owned, not-for-profit electric cooperative serving more than 31,000 electric accounts in Orange, Caswell, Alamance, Durham, Granville and Person counties. Piedmont Electric exists to serve our members and improve the quality of life in our communities through local employment, economic development, business engagement, youth education, grants to educators, advocacy for energy issues, community involvement and emergency preparedness support. Visit www.pemc.coop for more information.

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Photo caption: Members of the Cedar Grove Volunteer Fire Department, Senator Valerie Foushee, and representatives from Orange County and Piedmont Electric gather to celebrate the closing of $360,000 in zero-interest loans to the Cedar Grove Volunteer Fire Department.

Photo caption: Members of the Cedar Grove Volunteer Fire Department, Senator Valerie Foushee, and representatives from Orange County and Piedmont Electric gather to celebrate the closing of $360,000 in zero-interest loans to the Cedar Grove Volunteer Fire Department.

Individuals in photo (left to right)
Josh Hudson – Cedar Grove Volunteer Firefighter
Justin Farrar – Cedar Grove Volunteer Firefighter
Richal Vanhook – Piedmont Electric Board of Directors
Senator Valerie Foushee
Orange County Commissioners Jamezetta Bedford
Chief Jeff Borland – Cedar Grove Volunteer Fire Department
CT Pope – Cedar Grove Volunteer Fire Department Board of Directors
Steve Hamlin – Piedmont Electric President and CEO
Susan Cashion – Piedmont Electric VP, Chief Compliance & Administrative Officer
David Poythress – Piedmont Electric Board of Directors
Sam Woods – Piedmont Electric Board of Directors
Randy Kinley – Piedmont Electric Board of Directors
Stephen Long – Piedmont Electric Board of Directors