Pella Cooperative Electric and CIPCO Assists Rebuild of Locker
FOR IMMEDIATE RELEASE:
DATE: September 1, 2017
CONTACT: Cheri Popp
PHONE/EMAIL: 319-366-4512 ext. 4357/ firstname.lastname@example.org
SULLY, IA – Pella Cooperative Electric Association (PCEA) and Central Iowa Power Cooperative (CIPCO) closed on Revolving Loan Fund Loans with Sully Locker & Market totaling $225,000 on September 1st.
Sully Locker & Market, formally Sully Community Locker, regrettably suffered a fire in 2016 resulting in a total loss. The insurance proceeds and the proceeds of both the PCEA and CIPCO loans will help the Nikkels reopen. The new location will be approximately 6,300 square feet, nearly double the size of the old location. A larger facility will allow them to increase production and add a small grocery and deli market, a need identified in the community.
Sully Locker had 9 employees prior to the fire and plans to add 2-4 additional employees with the new concept. They plan to begin processing on October 2, 2017 and the market will open soon after that.
Sully Community Locker has been around for over 70 years. Jared and Stacey Nikkel purchased the business in 2012 continuing the stellar reputation that had been built over the years. They invested in some improvements in the facility, achieved some operating efficiencies and continued to look for growth opportunities. They are excited to provide this vital and expanded service to their community.
Pella Cooperative Electric Association provides electricity to more than 3,000 meters on 634 miles of line across five counties. Cooperatives have their roots in their local communities and the employees at Pella Cooperative Electric Association are no different. We are proud to live in the communities we serve, to support our hometown businesses and share the values of rural Iowa.