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Rural Economic Development Loan and Grant
- Open Now
Open Date:
Close Date:
Eligible Recipients:
- Non-profits
- Utilities
Program Purpose:
- Agriculture
- Economic Development
- Education and Workforce Development
- Health and Safety
Reserved for Energy
Communities?
Upcoming Milestones:
The deadlines for completed applications to be received in the RD State Office for quarterly funding competitions are no later than:
- 4:30 p.m. (local time) on: First Quarter, September 30, 2024;
- Second Quarter, December 31, 2024;
- Third Quarter, March 31, 2025, and
- Fourth Quarter, June 30, 2025.
Bureau/Office:
Funded by:
Overview
The Rural Economic Development Loan and Grant program provides funding for rural projects through local utility organizations. 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 the lending 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 (RLF). Loans are made from the revolving loan funds to projects that will create or retain rural jobs. When the revolving loan fund is terminated, the grant is repaid to USDA.
The Agency anticipates the following maximum amounts per award: Loans – $2,000,000; Grants – $300,000.
Related Resources
Additional information is available on the Resources page.Funding Details
Funding Source:
- Annual Appropriation
Funding Type:
Total Amount Available:
Limit per Applicant:
Estimated Awards:
Applicant Guidance
More information can be found on the webpage here.
Applicants can also reference the RBCS How to Apply Video Series.
Contact Information
Applicants should contact their local office.