Rural Economic Development Loan and Grant
ID: 351546Type: Posted
Overview

Buyer

Rural Business-Cooperative Service (USDA-RBCS)

Award Range

$0 - $2M

Eligible Applicants

Others

Funding Category

Regional Development

Funding Instrument

Other

Opportunity Category

Discretionary

Cost Sharing or Matching Requirement

Yes

Original Source

https://grants.gov/search-results-detail/351546

Additional Information

https://www.rd.usda.gov/programs-services/business-programs/rural-economic-development-loan-grant-program
Timeline
  1. 1
    Forecast Posted Not available
  2. 2
    Forecast Due Not available
  3. 3
    Posted Dec 18, 2023 12:00 AM
  4. 4
    Due Jun 30, 2024 12:00 AM
Description

The Rural Business-Cooperative Service is offering the Rural Economic Development Loan and Grant program. This program provides funding for rural projects through local utility organizations. The program offers zero-interest loans to local utilities, which are then passed on to local businesses for projects that will create and retain employment in rural areas. The ultimate recipients repay the loans directly to the lending utility. Additionally, grants are provided to local utility organizations to establish Revolving Loan Funds (RLF), which are used to make loans to projects that will create or retain rural jobs. The maximum amounts per award are $2,000,000 for loans and $300,000 for grants. To be eligible for funding, entities must be former Rural Utilities Service borrowers or nonprofit utilities eligible for assistance from the Rural Development Electric or Telecommunication Programs. The application deadlines for quarterly funding competitions are September 30, 2023; December 31, 2023; March 31, 2024; and June 30, 2024. For more information, visit the REDLG Program Web Site at https://www.rd.usda.gov/programs-services/business-programs/rural-economic-development-loan-grant-program.

Point(s) of Contact
cindy.mason@usda.gov
Files
No associated files provided.
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