Rural Economic Development Loan and Grant

Due: Jun 30, 2024

$2,000,000

DescriptionThe Rural Economic Development Loan and Grant program provides funding for rural projects through local utility organizations. 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 the lending 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...

Expected Number of Awards40Award Ceiling$2,000,000

Eligible Applicants- Others

Additional Eligibility Information

To receive funding (which will be forwarded to selected eligible projects), an entity must be: A former Rural Utilities Service borrower who borrowed, 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.

Funding TypeOtherCategories of Funding Activity- Agriculture- Business and Commerce- Community Development- Education- Health- Regional DevelopmentOpportunity TypeDiscretionary

Grantor Contact InformationProgram ManagerGrantor Emailcindy.mason@usda.govOther Grantor InformaitonCindy Mason Program Manager

Additional informationREDLG Program Web SiteSupporting Linkhttps://www.rd.usda.gov/programs-services/business-programs/rural-economic-development-loan-grant-program

Rural Economic Development Loan and Grant

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