Rural Community Development Revolving Loan Program
FloridaCommerce’s Rural Community Development Revolving Loan Program funds public projects that boost jobs, infrastructure, and economic growth in rural Florida communities.
Funder: FloridaCommerce
Due Dates: Rolling
Funding Amounts: Flexible term loans; interest rate 2%; loan amounts vary by project need; duration and collateral negotiable.
Summary: Flexible loans to local governments and economic development organizations to support economic growth, job creation, and diversification in rural Florida.
Key Information: Only local governments or economic development orgs (underwritten by local government) in eligible rural counties or areas may apply.
Description
The Rural Community Development Revolving Loan Program (RCDRL), administered by FloridaCommerce, provides flexible, low-interest loans to support the economic viability of rural communities in Florida. The program aims to leverage federal, state, and local financial resources to fund a wide range of public purpose projects that stimulate job creation, support existing industries, and foster economic diversification. Eligible projects include equipment purchases, land acquisition, construction or improvement of public facilities, and utility-related projects. The program is designed to address the needs of rural areas with populations of 75,000 or fewer, or contiguous counties with populations of 125,000 or fewer, and rural areas of opportunity.
