Prospect Hill Volunteer Fire Department Receives a $248,000 Zero-Interest Loan for Fire Truck

Photo caption: Caswell County Manager Bryan Miller addresses the crowd at the celebration of the $248,000 zero-interest loan closing at Prospect Hill Volunteer Fire Department.

Photo caption: Caswell County Manager Bryan Miller addresses the crowd at the celebration of the $248,000 zero-interest loan closing at Prospect Hill Volunteer Fire Department.

Prospect Hill, NC (December 13, 2018) – The Prospect Hill Volunteer Fire Department received a $248,000 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 larger and more reliable pumper/tanker will assist the 25 firefighters at the Prospect Hill VFD in their life and property saving efforts. With a pumping capability of 1250 gallons per minute (gpm) and a 1000 gallon tank, this new 2018 pumper/tanker will replace their 1970s model which pumped at 500 gpm.

“With this increased capability, our fire department should be able to obtain a much better insurance rating for those individuals and businesses that we serve,” said Chief Johnny Wright. “This new truck is also more reliable and user friendly.”

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 work with the Prospect Hill Volunteer Fire Department to improve the quality of life in one of the communities we serve,” said Steve Hamlin, Piedmont Electric President and CEO. “The cooperative’s structure was created to support the community. 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 $10 million in USDA funding within Caswell, Alamance, Orange, 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 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 and emergency preparedness support. Visit www.pemc.coop for more information.

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Photo caption: Members of the Prospect Hill Volunteer Fire Department and representatives of Caswell County and Piedmont Electric gather to celebrate the closing of $248,000 in zero-interest loans to the Prospect Hill Volunteer Fire Department.

Photo caption: Members of the Prospect Hill Volunteer Fire Department and representatives of Caswell County and Piedmont Electric gather to celebrate the closing of $248,000 in zero-interest loans to the Prospect Hill Volunteer Fire Department.

Attendees from left to right:
Tim Solomon – Prospect Hill Volunteer Fire Department
Vernon Massengill – Caswell County Fire Marshal
Bryan Miller – Caswell County Manager
Bruce Pleasant – USDA Business Programs Director
Barry Barnwell – Prospect Hill Volunteer Fire Department
Stephen Long – Piedmont Electric Board of Directors
Susan Cashion – Vice President, Chief Compliance and Administrative Officer at Piedmont Electric
Paul Bailey – Piedmont Electric Board of Directors
Scotty Barnwell – Assistant Chief of Prospect Hill Volunteer Fire Department
Johnny Wright – Chief of Prospect Hill Volunteer Fire Department
Bill Barber – Piedmont Electric Board of Directors
Steve Hamlin – President and CEO of Piedmont Electric
David Poythress – Piedmont Electric Board of Directors
David Owen – Caswell County Commissioner
Kenneth Travis – Former Caswell County Commissioner
Gary King – Prospect Hill Volunteer Fire Department
Rick McVey – Vice Chairman Caswell County Commissioner
Larry Seal – Prospect Hill Volunteer Fire Department
Jeff Oakley – Deputy Chief of Prospect Hill Volunteer Fire Department
Tim Yarbrough – Prospect Hill Volunteer Fire Department
Robbie Jean Yarbrough – Prospect Hill Volunteer Fire Department
Henry Lee Oakley – Prospect Hill Volunteer Fire Department
Randy Kinley – Piedmont Electric Board of Directors