Federal Project Grant Award Summary

Award Details: Pitt and Greene Electric Membership Corporation received a $300,000 Project Grant from the Rural Business Cooperative Services (RBCS) under the Rural Economic Development Loans and Grants program (CFDA 10.854) on May 28, 2026, with a completion date of May 28, 2028.

Products and Services: As an eligible local utility organization, Pitt and Greene Electric Membership Corporation serves as an intermediary to deliver rural economic development financing and support to eligible projects within its service territory in North Carolina. The organization will utilize these zero-interest federal funds to establish or expand a Revolving Loan Fund, enabling the pass-through of capital to rural businesses and development initiatives that support job creation and sustainable economic growth. Eligible activities funded through this mechanism include project feasibility studies, business start-up costs, business incubator projects, and other reasonable expenses that foster rural entrepreneurship. This funding leverages Pitt and Greene's existing infrastructure and institutional relationships to ensure federal resources reach underserved rural communities with demonstrated potential for employment generation and long-term economic development.