Rural economic development grants disaster (redg disaster) - grant

The Department of Agriculture Rural Business Cooperative Services awarded Blue Ridge Electric Membership Corporation $300,000 on May 28, 2026, under the Rural Economic Development Loans and Grants program (CFDA 10.854), a disaster-focused grant with performance extending through May 28, 2028.

Blue Ridge Electric, a tax-exempt electric cooperative based in Lenoir, North Carolina, functions as an intermediary utility organization deploying zero-interest pass-through financing and technical assistance to rural businesses and development projects within its service territory in North Carolina. Eligible activities under the REDLG program include project feasibility studies, business start-up funding, business incubator services, and technical assistance designed to generate employment and sustain economic growth in underserved rural communities.

The program provides funding for rural economic development projects through local utility organizations. USDA supplies zero-interest loans to local utilities, which pass them through to local businesses as ultimate recipients. Maximum grant amounts are $1.5 million, and loans carry maximum terms of ten years at zero percent interest. Performance location is North Carolina.