PVREA Finalizes $1 Million USDA Loan to Platte Valley Fire Protection District

Poudre Valley REA (PVREA) recently completed the loan process for a $1 million loan to the Platte Valley Fire Protection District for two new apparatus. PVREA was able to secure a grant through the USDA United States Department of Agriculture (USDA) Rural Economic Development and Loan Fund Program that loans a zero percent interest loan for an economic development project. The Board of Directors decided to grant this 10-year loan to Platte Valley Fire Protection District, which will be repaid over ten years at zero percent interest. The fire station used this loan to secure two new fire trucks that will enable them to better serve the community.

“We really believe in economic development and using our resources to help our local businesses. This loan enabled the fire district to purchase the fire trucks they needed to serve the community,” PVREA Board President Jack Schneider commented.

PVREA Key Accounts Representative Jay Pratz worked with Platte Valley Fire Protection District Office Manager and Public Information Officer Stephanie Cook for over two years to complete the loan process while the Command Staff worked on ordering the new trucks, which just recently arrived at the fire station.

Board members from the PVREA Board of Directors attended the Platte Valley Fire Protection District’s “push-in” ceremony on November 3, an evening that celebrated the two new additions to their fleet. The directors along with members of the community watched as the fire crew pulled out their old fire trucks and pushed in the new fire trucks into the station.

“Watching the fire crew push their new trucks into the shop really solidified in action what we’re attempting to do beyond providing power. As a board, we not only represent the membership but also make sure our co-op is helping foster our communities, improving the lives of those we serve,” PVREA Board member Georgi Diehl noted.

Over the course of ten years, funds from the loan payments from Platte Valley Fire Protection District will be allocated toward a Revolving Loan Fund, allowing for future economic development projects.

Date Posted: 11/20/2014