Leasburg, NC (December 3, 2020) – Leasburg Volunteer Fire Department received a $215,000 zero-interest loan to help pay for their new fire station. Piedmont Electric Membership Corporation is playing a supporting role in the construction of the fire station by facilitating a loan funded from the United States Department of Agriculture’s (USDA) Rural Economic Development Loan and Grant (REDLG) program revolving loan fund.
Located at 9798 Ridgeville Road, the new station will aid the department in providing life-saving assistance, fighting fires and protecting property by reducing response time. The Leasburg Volunteer Fire Department protects a population of 2,600 people throughout their 6-square mile district.
“The road (US Hwy 158 East) between our main station and our new substation has several curves and hills that our apparatus must endure during an emergency response to the Ridgeville Road area of our district,” said Chief Clayton. “With the building of this new substation, our response time will be decreased to this area because we will be able to house trucks in the area.”
The new fire station will allow the department to extend their level 9 Insurance Service Office (ISO) rating to homes in the Ridgeville Road and Solomon Lea Road area. This ISO rating helps determine insurance rates for homeowners in the area. Residents will need to start contacting their insurance companies starting in January 2021 to see if the new fire station will give lower homeowners insurance rates.
The funds for this zero-interest loan came from the revolving loan fund created from repaid USDA REDLG loans facilitated by Piedmont Electric. Payments from organizations who have received REDLG loans managed by Piedmont Electric in the past are placed into this revolving loan fund which allows these federal funds to be re-loaned in the local communities.
“Facilitating a zero-interest REDLG loan for the Leasburg Volunteer Fire Department allows us to support our community beyond our electric service,” said Steve Hamlin, Piedmont Electric President and CEO. “We are proud to be able to help make one of our communities a safer place to live, work and raise a family.”
In the past several years, Piedmont Electric has secured more than $13 million in USDA funding within Caswell, Alamance, Durham, Granville, Orange and Person counties for fire trucks, fire stations, ambulances, schools, a public library and a Habitat for Humanity warehouse. 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 33,000 electric accounts in Caswell, Alamance, Durham, Granville, Orange 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, broadband connectivity and emergency preparedness support. Visit www.pemc.coop for more information.