Meriwether Lewis Electric Co-op helps local business with loan
The Spalon in Linden will be relocating and expanding its services with the help of a $50,000 loan from Meriwether Lewis Electric Cooperative. The interest-free loan was closed Feb. 29, and made possible by MLEC’s Revolving Loan Fund (RLF).
Owned by Jennifer Keeton of Perry County, The Spalon provides massages, tanning, skin treatments, and salon services. The loan allows her to settle into a different location more conducive to a spa atmosphere and offer more services to new and established clients.
As the loan is paid back over ten years, MLEC can loan it out again for other economic and community development projects. The RLF was established in 1996 with co-op funds and a grant from Rural Utilities Service. Since its inception, the RLF has awarded almost $750,000 in the MLEC service area and is in support of the cooperative’s goal to help local communities grow.
Meriwether Lewis Electric Cooperative, a Touchstone Energy® cooperative, is a non-profit organization offering reliable, low-cost electricity to over 33,500 members in Hickman, Houston, Humphreys, Lewis and Perry counties.
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