MAC Metal

South Kentucky RECC and Kentucky USDA Rural Development has presented a USDA Rural Economic Development Loan to MAC Metal Sales of Somerset. The check for $400,000 was presented to company president Danny McGlothlin by SKRECC CEO Allen Anderson, USDA Rural Development State Director Kenneth Slone, and Donna McClure, Field Representative for Senator Mitch McConnell’s office.

MAC Metal Sales used the money to purchase 5 semi-trucks, 8 tandem trailers, and a new trim-former for their existing metal manufacturing and sales business. This endeavor was expected to create about 20 additional jobs.

Anderson says, “It makes good sense to assist with an expansion project that will affect our members and have such a positive impact on the community. South Kentucky RECC’s board of directors has pledged, through the development and adoption of our mission statement, ‘to improve the quality of life in our communities,’ and this is one way that we can achieve that mission.”

The USDA Rural Economic Development and Loan Program consists of federal funds that are available to be used for revolving loans for community economic development. The funding is made to its recipients, such as MAC Metal Sales, through participating electric or telephone cooperatives for a maximum of 10 years at a zero-interest rate. These loans are structured in a way that the participating co-ops have limited risk serving as a conduit making these federal funds available to enhance the socioeconomic conditions in their service area.