Recently-approved federal loans will give hurricane torn south Mississippi an economic boost and ensure Mississippi Gulf Coast Community College remains strong.

The Rural Business Cooperative Service of the U.S. Department of Agriculture approved a $450,000 rural development loan as well as an additional $300,000 loan to Singing River Electric Power Association. The USDA provides loans to rural utility borrowers to boost economic development. Singing River Electric will use the $300,000 loan as a revolving community loan program and has matched the loan with an additional $60,000.

According to Singing River Electric general manager and CEO, Lee Hedegaard, the loans will assist Mississippi Gulf Coast Community College which suffered extensive damage at the campuses and centers totaling over $15,0000,000. “Mississippi Gulf Coast Community College is an invaluable asset to south Mississippi,” said Hedegaard. Singing River Electric serves electric power to both the Jackson and George county campuses. “We are glad to be a part of the continued repair and growth of our communities following Katrina.”

MGCCC president Dr. Willis Lott commented “nearly 3,000 students were forced to withdraw from college due to Hurricane Katrina, and the college is facing a serious budget shortfall. The Board of Trustees is using $4.7 million of the college’s emergency fund balance and has also cut the budget by nearly $2 million. These two zero interest loans will help the college maintain its workforce – the faculty and staff that are so important to our college mission.”

“Singing River Electric was the first community partner to step up to offer assistance,” said Lott.  “We will be able to retain 20 faculty and staff positions because these Rural Development loan funds were made available to us.  We appreciate Lee Hedegaard’s leadership and Singing River Electric’s commitment to the community college.  Because of our past partnerships, we have been able to create a model Electric Lineman Apprentice training program, expand our George County Center and improve the quality of life for local residents.”

“The success of our communities and economic development depend on the availability of good colleges and universities,” said Hedegaard. “This loan is a win-win for everyone.”

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Singing River Electric Power Association also helped received the following federal zero-interest loans:

- February 2001 -- $450,000 rural development, zero-interest loan to the Mississippi Gulf Coast Community College for the construction of an 8,800 square foot multi-purpose classroom and training facility situated on MGCCC’s George County Campus.
- October 1998 -- $750,000 rural development, zero-interest loan to George County Hospital to fund the construction of 10 new patient rooms, a nursing station and medical equipment adding 18,800 square feet to the existing facility.

Cut-line: Singing River Electric Power Association presents Mississippi Gulf Coast Community College with a zero-interest federal loan for $810,000. From left to right are Clyde Strickland, chairman of the board for MGCCC; Tim Mood, vice-president of economic development with EPA of Mississippi; Michael Callahan, incoming executive director of EPA of Mississippi; Dr. Willis Lott, president of MGCCC; Mike Smith, assistant general manager and director of engineering for SREPA; Lee Hedegaard, general manager and CEO of SREPA; Mike Ladnier, commercial loan specialist for Rural Business Cooperative Services USDA; Michael Ingram, project manager of economic development for EPA of Mississippi; Mark Maples, SREPA board attorney.