Rural economic development grant - electric farm bill

Beltrami Electric Cooperative, Inc. received a $300,000 Project Grant award dated August 6, 2025, under the Rural Economic Development Loans and Grants program (CFDA 10.854), administered by the Rural Business Cooperative Services (RBCS), a division of the U.S. Department of Agriculture. The award carries an ultimate completion date of August 6, 2027, and will be performed in Minnesota.

Under this grant, Beltrami Electric Cooperative will function as an intermediary utility organization to distribute zero-interest financing to eligible rural businesses and development projects within its service territory. The cooperative will deploy these funds to support rural economic development and job creation initiatives, including project feasibility studies, business start-up costs, business incubator projects, and other reasonable expenses designed to foster rural entrepreneurship. The grant enables the cooperative to establish or maintain a revolving loan fund mechanism that channels federal capital to ultimate recipients—rural businesses and projects—that demonstrate potential for employment generation and sustainable economic development.