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                                         DAPCO, Inc. in Dixon, KY                        

RURAL ECONOMIC DEVELOPMENT LOANS AND GRANTS
 

Purpose:  To finance economic development and the creation and/or retention of jobs 

Program Type:  Loan and/or grant made through an intermediary for a specific project 

Eligible Applicants:  Electric or telephone cooperatives funded by the Rural Utility Service (RUS)  

Eligible Areas:  Cities and unincorporated areas of 2,500 or less or as defined in Section 13 of the Rural Electrification Act of 1936, as amended

Authorized Purposes:  Funds are used for business development purposes that will result in increased employment; grants are used for economic development purposes such as education, job training, related telecommunication improvements, business incubators, and technical assistance

Rates and Terms:  Loans a zero percent interest rate and a term of 10 years; grants recaptured by the cooperative must be used to establish a revolving loan fund

When to Apply:  Year round

Who to Contact:  Kentucky Rural Development's Business and Cooperative Programs office can be reached at 859/224-7435; additional information can be viewed on the BCP national webpage