Rural Economic Development Loan and Grant
Agency Name:
Rural Business-Cooperative ServiceDescription:The Rural Economic Development Loan and Grant programs provide funding for rural projects through local utilityorganizations.
USDA provides zero-interest loans to local utilities which they in turn, pass through to local businesses(ultimate recipients) for projects that will create and retain employment in rural areas.
The ultimate recipients repay thelending utility directly.
The utility then is responsible for repayment to USDA.USDA provides grants to local utility organizations which use the funding to establish Revolving Loan Funds (RLFs).
Loansare made from the revolving loan funds to projects that will create or retain rural jobs.
When the revolving loan fund isterminated, the grant is repaid to USDA.The Agency anticipates the following maximum amounts per award:
Loans - $2,000,000; Grants - $300,00 0.
Rural Business-Cooperative ServiceDescription:The Rural Economic Development Loan and Grant programs provide funding for rural projects through local utilityorganizations.
USDA provides zero-interest loans to local utilities which they in turn, pass through to local businesses(ultimate recipients) for projects that will create and retain employment in rural areas.
The ultimate recipients repay thelending utility directly.
The utility then is responsible for repayment to USDA.USDA provides grants to local utility organizations which use the funding to establish Revolving Loan Funds (RLFs).
Loansare made from the revolving loan funds to projects that will create or retain rural jobs.
When the revolving loan fund isterminated, the grant is repaid to USDA.The Agency anticipates the following maximum amounts per award:
Loans - $2,000,000; Grants - $300,00 0.
Obtain Full Opportunity Text:
FedConnect
Additional Information of Eligibility:
To receive funding (which will be forwarded to selected eligible projects), an entity must be: A former Rural Utilities Service borrower who borrowered, repaid or pre-paid an insured, direct or guaranteed loan.
Nonprofit utilities that are eligible to receive assistance from the Rural Development Electric or Telecommunication Programs.
Current Rural Development Electric or Telecommunication Programs borrowers.
Full Opportunity Web Address:
https://www.rd.usda.gov/programs-services/business-programs/rural-economic-development-loan-grant-programs
Contact:
Agency Email Description:
Program Manager
Agency Email:
Date Posted:
2024-08-26
Application Due Date:
Archive Date:
2025-07-30
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