Pilot Grove Savings Bank Named a Top State Revolving Fund Lender

Written by on September 28, 2012 in News

Pilot Grove Savings Bank Named a Top State Revolving Fund Lender

Southeast Iowa Lender Recognized for Lending Practices for
Water Quality Projects

Des Moines, Iowa – Pilot Grove Savings Bank was recently recognized as an Iowa Top Lender through the State Revolving Fund’s water quality programs. These programs, which aim to reduce runoff in Iowa’s waterways, provide low interest loans to Iowans to assist in water quality projects. The State Revolving Fund is jointly administered by the Iowa Finance Authority and the Iowa Department of Natural Resources in partnership with the Iowa Department of Agriculture and Land Stewardship.

“The State Revolving Fund’s success is a testament to the partnerships with the hundreds of dedicated lenders throughout the state,” said Jim Gillespie, Director of the Division of Soil Conservation. “I commend Pilot Grove Savings Bank on being recognized as a top State Revolving Fund lender and look forward to a continued successful partnership.”
The State Revolving Fund features a variety of programs that offer low interest loans to assist farmers, livestock producers, watershed organizations and others and are offered through participating lenders across the state. The Local Water Protection Program assists projects that will limit the runoff of sediment, nutrients, pesticides or other nonpoint source pollutants from entering Iowa waters. The Livestock Water Quality Program assists Iowa livestock producers with projects to prevent, minimize or eliminate non-point source pollution of Iowa’s rivers and streams from animal feeding operations.
According to Iowa Finance Authority Executive Director Dave Jamison, there are nearly 4,000 water quality projects in partnership with more than 450 participating lenders throughout the state since the program’s inception.

“We are proud to offer affordable financing to land owners in the area so vital water quality projects can become a reality,” said Ted J. Vonderhaar, Pilot Grove Savings Bank President/CEO. “It is an honor to provide assistance for improvements that will affect such an essential part of our environment and will in turn benefit entire communities.”
Pilot Grove Savings Bank, with 10 locations throughout Southeast Iowa, has been offering low-interest loans through the program since 2007. The Bank currently has 81 loans in the Local Water Protection Program.

For more information on the State’s Revolving Fund’s water quality program, or to apply for a loan through the program, contact Matthew Morrison or Joshua Ragar at Pilot Grove Savings Bank at 319-469-3951 or 888-283-2265 toll free.

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