Additional information regarding USDA loan referenced in Butler city council meeting

"10 years, zero percent" caught the attention of many who read the Butler city council news this week regarding a loan to be received by the Hertzog Meat Company on behalf of Osage Valley Electric Coop. In actuality, Osage Valley is the 'pass-thru' for the loan of up to 1 million dollars that will actually come from the USDA Rural Development program.

These loans are to be used to help create and keep jobs in the rural communities and per protocol, the monies are passed to a local utility (in this case Osage Valley) who then passes the money to the end user (Hertzog Meat Company). Repayment is done through the same channel- to Osage Valley who will then pay the USDA.

Mid America Live spoke with Jana Rosier who is Director of Member Services & Economic Development at Osage Valley who wanted to stress that the loan is not directly from them and further, while Osage Valley has been approved for the loan, more paperwork is required on behalf of the utility and Hertzog before any money will be granted.

More information can be found here https://www.rd.usda.gov/media/file/download/rd-fs-rbs-redl.pdf