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| Loan and Grant Program |
| Overview |
| The Purpose Of The Rural Economic Development Loan And Grant Program (REDLG) Is...To provide for a wide range of rural economic development and job creation projects that will improve the economic condition of rural areas. Loans and grants are made to USDA Rural Development electric and telephone program borrowers who use the funds to provide financing for business and community development projects. Projects may include: business expansion and start-up, community development, business incubator, medical, training and technology projects, revolving loan funds, etc. | |
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Grants are provided to...utility cooperatives to support economic
development. Eligible Applicants Include...USDA Rural Development program electric and telephone utilities. |
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Terms And Conditions... |
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Eligible areas include unincorporated rural areas, cities, and towns with populations of less than 50,000. Points given to populations of 2,500 and under. |
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Project must be based on a sound analysis. |
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Funds must be used to promote rural area projects that spur economic productivity and job creation. |
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Loans are made to eligible utility and telephone cooperatives. Grant funds available to eligible utility, telephone cooperatives, and Public Power Districts. |
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Loan term is zero percent interest for a maximum of 10 years. |
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The loan is held to a minimum of $10,000 and the maximum amount is subject to availability of funds each fiscal year. |
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20 percent supplemental funding required for the loans from the project owner. |
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Grants are provided to utility cooperatives to support economic development projects. |
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Applicant must establish (RLF) revolving loan fund. |
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Grants are limited to a minimum of $10,000 and the maximum amount is subject to availability of funds each fiscal year. |
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20 percent supplemental funding is required by the applicant for grants. The 20 percent can be loaned to project owner or a separate eligible project. |
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20 percent supplemental funding is required for the grants from the project owner. |
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View...The detailed Rural Economic Development Loan Fact Sheet. |
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View...The detailed Rural Economic Development Grant Fact Sheet. |
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Locate And Contact....Your nearest USDA Rural Development Office. |
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