Knoxville Hospital and Clinics are the beneficiaries of a $1 million Rural Economic Development Loan announced by Ag Secretary Tom Vilsack Friday.

The funds will assist with the expansion and renovation of the hospital.

Rural Economic Development Loans and Grants help expand healthcare and job opportunities throughout the state. The loans are at zero-interest to utilities that lend funds to local businesses for projects that create and retain jobs in rural areas.

The Pella Cooperative Electric Association will receive the funds for their part in the project.