More Than $1 Million in Loans and Grants to Iowa from UDSA

WASHINGTON, DC – May 19, 2010 – (RealEstateRama) — Chuck Grassley today said that the U.S. Department of Agriculture, Office of Rural Development has awarded 12 loans totaling $565,963 and 12 grants totaling $521,526 to Iowa through the Rural Energy for America Program (REAP).

“REAP funding helps promote the use of safe, renewable energy which will lessen our dependence on foreign oil,” Grassley said.  “That’s good for Iowa and it’s good for America.”

The Office of Rural Development will distribute the funds as shown below organized alphabetically by town.  All funds are being used to purchase and/or install energy efficient grain drying systems.

• Kerrigan Bros. in Afton will receive a $49,801 loan and a  $49,801 grant
• John Hayek in Clutier will receive a $42,919 loan and a  $42,919 grant
• WE Inc Grain Dryer Project in Fonda will receive a $42,486  loan and a $42,486 grant
• Todd Christians in Kanawha will receive an $88,874 loan and  a $44,437 grant
• Benton Grain Company in Keystone will receive a $49,941  loan and a $49,941 grant
• Craig Hupfeld in Liscomb will receive a $47,510 loan and a  $47,510 grant
• Marcydu, Inc. in Monticello will receive a $40,215 loan and  a $40,215 grant
• Carl Ries in Monticello will receive a $45,938 loan and a  $45,938 grant
• S & J Lawler, Inc. in Ogden will receive a $49,550 loan and  a $49,550 grant
• Clark Yeager in Ottumwa will receive a $49,245 loan and a  $49,245 grant
• Richard Homan in Remsen will receive a $33,584 loan and a  $33,584 grant
• Ronald Schnoor in Stockton will receive a $25,902 loan and  a $25,902 grant

According to the USDA, REAP funds are used to promote investments in renewable energy, such as bioenergy, geothermal, hydrogen, solar, wind and hydro power, and energy efficiency projects.

Each year, thousands of local Iowa organizations, colleges and universities, individuals and state agencies apply for competitive grants from the federal government.  The funding is then awarded based on each local organization or individual’s ability to meet criteria set by the federal entity.


The Conference of State Bank Supervisors (CSBS) is the nationwide organization for state banking, representing the bank regulators of the 50 states, the District of Columbia, Guam, Puerto Rico and the Virgin Islands, and approximately 6,200 state-chartered financial institutions.

The Conference is responsible for defending state authority to determine banking structure and the products and services state-chartered institutions can offer and for improving the quality of state bank supervision by providing department performance evaluation and accreditation programs and supervisory education/training programs for state banking department personnel.

Bill Matthews
Senior Vice President
Phone: 202/728-5711

1155 Connecticut Ave NW, 5th Floor
Washington, DC 20036-4306

Phone: 202.296.2840
Fax: 202.296.1928

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