Lincoln, Nebraska, Jun 13, 2011 -- USDA Rural Development is seeking applications for the Rural Economic Development Loan and Grant (REDLG) program. Application deadlines for the remainder of this fiscal year are monthly; June 30, July 31 and August 31.
Eligible applicants for the REDLG program are USDA Rural Utilities Service (RUS) borrowers under the Rural Electrification Act (REA) including borrowers who have repaid or prepaid and any non-profit utility or municipal utility that is determined eligible to receive assistance under the Rural Electrification Act.
The maximum loan amount available is $740,000, and the maximum grant amount is $300,000. Applications will be accepted for combination loan and grant requests to finance single projects as well as dual applications where two applicants wish to simultaneously participate in financing portions of the same ultimate recipient project.
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 ultimate recipient project must be located in a rural area of less than 50,000 population.
For more information contact your local Rural Development representative 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
* Korey Young, firstname.lastname@example.org or 402-371-5350 extension 1002 – northeast counties
* Roger Meeks, email@example.com or 402-423-9683 extension 123 – southeast counties