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Powering Community: REDL&G Program Overview and Success
Join the Montana Cooperative Development Center (MCDC) and Montana’s USDA-Rural Development office in a live discussion with Lincoln Electric Cooperative and InterBel Telephone Cooperative and the success of the Rural Development Loan and Grant Program in the Eureka community. Lincoln Electric and InterBel joined forces in 2006 to apply for a Rural Development Loan and Grant (REDL&G) utilizing the grant component of the program. The first loans were to the local schools for a biomass boiler system and the medical clinic for much-needed equipment. This was the start of the REDL&G Revolving Loan Fund in the area, which has facilitated the growth of numerous businesses and continues to be a source for businesses gap financing.
On August 19th at 2:00 pm, members of the Montana USDA- Rural Development Team and staff from MCDC will have discuss with the General Managers of Lincoln Electric Cooperative and InterBel Telephone Cooperative the success of the REDL&G grant program since 2006. The discussion will include an overview from RD on the purpose and application process of the REDL&G program and how MCDC can assist, and ideas of working with regional and local economic development organizations. The live discussion will include a review on why Lincoln Electric and InterBel chose to develop a local revolving loan fund, the pros and cons of managing a loan fund, how many businesses have been assisted, and the overall impact of the REDL&G program in the community. Business members who have benefited from the REDL&G program in Eureka have been invited to join.
The webinar is free to all interested in joining though registration is required to receive a zoom link.
- Jason Moothart
- Lad R. BarneyBusiness & Cooperative Programs Director (Montana Rural Development) - USDA
Lad Barney currently serves as the Montana Business & Cooperative Programs Director for USDA Rural Development. Prior, he served as Area Director for RD Missoula & Kalispell offices since August 2008. Lad has also worked as the Director of the Small Business Development Center at the Kalispell Chamber of Commerce for five years. In late ‘90’s and early 2000’s, Lad was Operations Manager and Lead Sales Consultant for two technology solution providers – one in Kalispell, MT and one in Vancouver, WA, in addition to starting a technology-based Montana business immediately after degrees from the University of Montana. Go Griz!
Firmly believing that not a single dollar of USDA’s Business programs cannot be delivered successfully without a partner’s assistance or advocacy, Lad prioritizes USDA resources to growing that capacity, with existing partners and new. Lad is committed to continuing the good momentum of program delivery positioning staff, financial and other resources to being flexible to respond to changes that exist within federal programs, state resources and the business community on a daily basis.
Lad is blessed to be married to wife Kristin and has three children (19, 17, and 12) so any extra time is spent with them happily, including softball, football, recitals, and everything else. Being close to Glacier Park and in Montana, a lot of time is spent getting away from it all (hunting, fishing, snowshoeing, running, etc.)
- Lea McGiboneyBusiness & Cooperative Programs Specialist - USDA Rural Development
Lea McGiboney is a Business and Cooperative Programs Specialist with USDA Rural Development’s Rural Business Services. In this role, Lea leads a team providing all aspects of financing including loans, grants, and guarantees and has successfully served a range of clients, including townships, Tribal entities, non-profit economic development organizations, small businesses, agricultural producers, and lenders.
Before joining USDA Rural Development in 2007, Lea worked for eight years for a diverse range of organizations, including non-profit economic development organizations and banks, and was responsible for lending, loan administration and outreach.
Lea holds finance specialist certifications from the American Bankers Association, Risk Management Association and National Development Council and can be reached at 406-770-4291, 406-750-8768 or by email at email@example.com.
- Telly StangerGeneral Manager - Lincoln Electric Cooperative/Rural Propane Services
Telly Stanger has been with electric cooperatives for over 15 years. His career has taken him from the deserts of Arizona to the plains of Southeast Colorado and currently to the beauty of Northwest Montana. He has managed award winning irrigation efficiency programs and overseen the implementation of large-scale solar projects. As the present General Manager of Lincoln Electric Cooperative and Rural Propane Services, Telly directs the day-to-day affairs of these 2 vital businesses in North Lincoln County. His greatest achievement is his family of 5 children and he and his wife Karina love to be involved in their lives and see them succeed. Telly loves classic rock and enjoys outdoor activities such as mountain biking, skiing and kayaking with his family. He plays the piano and attempts to play the guitar. If you asked him to choose between Pink Floyd or Led Zepplin, he would choose Pink Floyd everytime.
- Vonda McGarvey