Rural Economic Development Loan and Grant
Closed Posted
- Opportunity number
- RD-RBCS-25-REDLG
- Agency
-
Rural Business Cooperative Services
Washington Office, Department of Agriculture
- Applications due
- Award size
- Not on record
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 .
About this opportunity
The Rural Economic Development Loan and Grant program, administered by the Department of Agriculture's Rural Housing Service, provides funding through local utility organizations for rural economic development and job creation initiatives. The program offers zero-interest loans up to $2,000,000 and grants up to $300,000 for projects that will create and retain employment in rural areas. Eligible applicants include local utility organizations, such as rural electric cooperatives and municipal utilities, which can use the funds to establish Revolving Loan Funds or provide pass-through loans to local businesses. The funding can be used for feasibility studies, start-up costs, incubator projects, and other reasonable expenses to foster rural development. The current opportunity has a due date of June 30, 2025.
This program typically awards grants ranging from $100,000 to $300,000, with most awards at the $300,000 level, and has a two-year performance period. The funding is available for rural projects across the United States and its territories.
Synopsis
Agency Name: Rural Business-Cooperative Service
Description:
The Rural Economic Development Loan and Grant programs provide 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 (RLFs). 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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