Rural Economic Development Loan and Grant

https://www.grants.gov/web/grants/view-opportunity.html?oppId=343066
Award Amount
$2,000,000.00
Maximum Amount
$2,000,000.00
Assistance Type
Other
Funding Source
Federal
Implementing Entity
Rural Business-Cooperative Service
Due Date
Where the Opportunity is Offered
All of California
Eligible Applicant
Other
Additional Eligibility Information
To receive funding (which will be forwarded to selected eligible projects), an entity must be: A former Rural Utilities Service borrower who borrowed, repaid or pre-paid an insured, direct or guaranteed loan. Nonprofit utilities that are eligible to receive assistance from the Rural Development Electric or Telecommunication Programs.Current Rural Development Electric or Telecommunication Programs borrowers.
Contact
Cindy Mason
Description

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.

Category
Sustainable Agriculture
Community Development
Community Outreach and Capacity Building

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Last Updated