Temple, Texas, Mar 27, 2014 -- USDA Rural Development Texas State Director Paco Valentin announced today that applications are available for the Revolving Fund Program (RFP). The program has been established to assist communities with water or wastewater systems.
Qualified private non-profit organizations will receive RFP grant funds to establish a lending program for eligible entities. Eligible entities for the revolving loan fund will be the same entities eligible to obtain a loan, loan guarantee, or grant from the Rural Utilities Service Water and Waste Disposal and Wastewater loan and grant programs. As grant recipients, the non-profit organizations will set up a revolving loan fund to provide loans to finance predevelopment costs of water or wastewater projects, or short term small capital projects not part of the regular operation and maintenance of current water and wastewater systems. The amount of financing to an eligible entity shall not exceed $100,000 and shall be repaid in a term not to exceed 10 years. The rate shall be determined in the approved grant work plan.
“USDA supports the development of rural communities and the growth of their economies without endangering the environment,” said Paco Valentin. “Our goal is to help rural Texas communities bring safe drinking water and waste disposal facilities to those in greatest need.”
A grant application guide, copies of necessary forms and samples, and the Revolving Fund Program Regulation are available at http://www.rurdev.usda.gov/UWP-revolvingfund.html.
Applications can be submitted by paper or an electronic application by the deadline of May 27, 2014. For more information about the Revolving Fund Program, and the application process, see page 16763 of the March 26, 2014 Federal Register (http://www.gpo.gov/fdsys/pkg/FR-2014-03-26/pdf/2014-06622.pdf).
President Obama’s plan for rural America has brought about historic investment and resulted in stronger rural communities. Under the President’s leadership, these investments in housing, community facilities, businesses and infrastructure have empowered rural America to continue leading the way – strengthening America’s economy, small towns and rural communities. USDA’s investments in rural communities support the rural way of life that stands as the backbone of our American values.