Rural Economic Development Loan and Grant
Closed Posted
- Opportunity number
- RD-RBCS-23-REDLG
- Agency
-
Rural Business Cooperative Services
Washington Office, Department of Agriculture
- Applications due
- Award size
- Up to $2,000,000
Opportunity facts
- Assistance listings
- Funding instrument
- Not on record
- Categories
-
- Agriculture
- Business and Commerce
- Community Development
- Education
- Health
- Regional Development
- Eligible applicants
-
- Other
- Full announcement
Opportunity details come from Grants.gov. Updated .
Synopsis
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.
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