Lincoln, Nebraska, Feb 11, 2011 -- USDA Rural Development is seeking applications for the Rural Economic Development Loan and Grant (REDLG) program.
Eligible applicants for the REDLG program are USDA Rural Utilities Service (RUS) borrowers under the Rural Electrification Act (REA) including repaid or prepaid borrowers, and any non-profit utility or municipal utility that is determined eligible to receive assistance under the Rural Electrification Act.
Utilities receiving loan or grant funds from Rural Development provide assistance to ultimate recipients such as for profit, not-for-profit, or public bodies. Eligible ultimate recipient project loan costs include start-up venture costs, business expansion, business incubators, technical assistance, project feasibility studies, advanced telecommunication services and computer networks for medical, educational and job training, or community facility projects. For more information regarding the REDLG program visit: http://www.rurdev.usda.gov/BCP_redlg.html.
The maximum loan amount available is $740,000, and the maximum grant amount is $300,000. The ultimate recipient project must be located in a rural area of less than 50,000 population. In Fiscal Year 2010 one loan ($740,000) and three grants ($900,000) were awarded to Nebraska.
The second quarter application deadline for the REDLG program is March 31, 2011.
Contact one of Rural Development’s Business Program Specialists to discuss a proposed project or for an application template and forms.
* Marla Marx, firstname.lastname@example.org or 308-632-2195 extension 1132 – panhandle and southwest counties
* Kelley Messenger, email@example.com or 308-237-3118 extension 1120 – north and south central counties
* Jenny Nelson, firstname.lastname@example.org or 402-423-9683 extension 124 – southeast counties
* Korey Young, email@example.com or 402-371-5350 extension 102 – northeast counties
Through its Rural Development mission area, USDA administers and manages more than 40 housing, business and community infrastructure and facility programs through a network of 6,100 employees located in the nation’s capital and 500 state and local offices. These programs are designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America. Rural Development has an existing portfolio of more than $142 billion in loans and loan guarantees.