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Rural Economic Development Loan and Grant

Open Date:

12/18/2023

Close Date:

6/30/2024

Eligible Recipients:

  • Utilities

Program Purpose:

  • Agriculture
  • Economic Development
  • Education and Workforce Development
  • Health and Safety

Reserved for Energy
Communities?

No

Upcoming Milestones:

Program Application Period:

The deadlines for complete applications to be received in the RD State Office for quarterly funding competitions are no later than 4:30 p.m. (local time) on:

Third Quarter, March 31, 2024

Fourth Quarter, June 30, 2024

Bureau/Office:

Rural Business-Cooperative Service

Funded by:

U.S. Department of Agriculture

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:
Funding Type:
Grant - match required
Total Amount Available:
$2000000.00
Limit per Applicant:
Estimated Awards:
40

Applicant Guidance

More information can be found on the webpage here.

Contact Information

Cindy Mason, Program Manager

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