Find Your Funding Opportunity
Rural Economic Development Loan and Grant
Service
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Source |
Final Application Due Date |
Funding Available
|
Match Required
|
|---|---|---|---|---|
| Food, Agriculture & Nutrition |
Federal
USDA |
06-30-2024 | N/A | Match Required |
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Service
-
Source
-
Final Application Due Date
-
Funding Available
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Match Required
Status
- Expected Number of Awards 40
- Opportunity Type Discretionary
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CFDA
10.854 -- Rural Economic Development Loans and Grants
Description
The 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 Loan Funds (RLF). Loans are made from the revolving loan funds to projects that will create or retain rural jobs. When the revolving loan fund is terminated, the grant is repaid to USDA.
The Agency anticipates the following maximum amounts per award:Loans - $2,000,000; Grants - $300,000.
Eligibility
- IHE
- Local Government
- Non-Profit
- Other
- State Government
- Tribal Government
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.
Key Date(s)
- December 18, 2023: Last Updated Date
- December 18, 2023: Posted Date
- June 30, 2024: Current Closing Date for Applications
- June 30, 2024: Application Due Date
Contact Information
Cindy Mason
Program Manager