SIRE expands credit facility to $30 million

November 25, 2019 |

In Iowa, Southwest Iowa Renewable Energy announced the recent expansion of its credit facility and purchase of membership units. As previously reported, effective November 8, 2019, the Company entered into amendments to its credit facility with Farm Credit Services of America, FLCA and CoBank, ACB as cash management provider and agent. Under the revised Credit Facility, the Company has in place a $30,000,000 term note with a maturity date of September 2024 and principal payments of $7,500,000 per year. In addition, the Company has available a revolving term note in the maximum principal amount of $40,000,000 and a maturity date of September, 2024. The full amount of this note is available on a revolving basis from time to time through maturity.

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