Rural Economic Development Loan and Grant
USDA offers zero-interest loans and grants to local utilities, who then fund rural businesses for job creation, with the utilities repaying USDA.
This grant is no longer accepting proposals
Rural Business-Cooperative Service has archived this opportunity.
Funder: Rural Business-Cooperative Service
Due Dates: September 30, 2024 | December 31, 2024 | March 31, 2025 | June 30, 2025 (quarterly deadlines)
Funding Amounts: Loans: up to $1,000,000 (zero-interest, 10-year term) | Grants: up to $300,000 (20% match required)
Summary: Zero-interest loans and grants to local utilities for pass-through funding to rural projects that create or retain jobs.
Key Information: Applicants must be current/former Rural Utilities Service borrowers or eligible nonprofit utilities; projects must benefit rural areas (population <50,000).
Description
The Rural Economic Development Loan and Grant programs (REDLG) provide financial support to rural projects through local utility organizations. The U.S. Department of Agriculture (USDA) offers zero-interest loans and grants to eligible local utilities, which then re-lend or grant these funds to local businesses or projects that create or retain employment in rural areas. The program aims to stimulate economic growth, support business expansion, and enhance community facilities in rural communities.
