Rural Economic Development Loans and Grants
Department Of Agriculture, Rural Business Cooperative Service
The Rural Economic Development Loan and Grant Programs provide 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 us
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Helps projects that create jobs and boost the economy in rural areas. Grants up to $1.5 million and loans up to $2 million are available.
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What Is This Program?
What Benefits Are Offered?
The program provides zero-interest loans from USDA to eligible local utility organizations, which then pass these funds to local businesses (ultimate recipients) for projects that create or retain rural jobs. It also offers grants (up to $300,000) to local utilities to establish Revolving Loan Funds (RLFs), from which loans are made to projects that create or retain rural jobs. Grant funds must be repaid to USDA upon termination of the RLF. The ultimate recipient loans are zero-interest and can cover up to 80% of project costs.
Who Is Eligible?
Industries: electric utilities, telecommunications, non-profit utilities, business development, community development, healthcare, education, training
Region: rural areas, towns with population fewer than 50,000 residents, United States
Other Criteria: Current Rural Utilities Service (RUS) electric or telecommunication borrower, Former RUS borrower that has repaid or prepaid an insured, direct or guaranteed loan under the Rural Electrification Act, Any not-for-profit utility that is eligible to receive an insured or direct loan under the Rural Electrification Act, Projects must create and retain employment in rural areas
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FAQFrequently Asked Questions
Visit the program page for detailed eligibility requirements.
This program offers funding up to $1,000,000.
This program accepts applications on a rolling basis.
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