Rural Economic Development Loan and Grant

Rural Business-Cooperative Service

Description

Agency Name: Rural Business-Cooperative ServiceDescription:The Rural Economic Development Loan and Grant programs provide funding for rural projects through local utilityorganizations. USDA provides zero-interest loans to local utilities which they in turn, pass through to local businesses(ultimate recipients) for projects that will create and retain employment in rural areas. The ultimate recipients repay thelending utility directly. The utility then is responsible for repayment to USDA.USDA provides grants to local utility organizations which use the funding to establish Revolving Loan Funds (RLFs). Loansare made from the revolving loan funds to projects that will create or retain rural jobs. When the revolving loan fund isterminated, the grant is repaid to USDA.The Agency anticipates the following maximum amounts per award: Loans - $2,000,000; Grants - $300,000.

Who can apply

• Others

Contact

Cindy Mason <br/>Business Loan and Grant Analyst <br/>Phone 202-690-1433
cindy.mason@usda.gov