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Rural Economic Development Loan and Grant

Open Date:

12/18/2023

Close Date:

6/30/2024

Eligible Recipients:

  • Non-profit

Program Purpose:

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

Reserved for Energy
Communities?

No

Upcoming Milestones:

Jun 30, 2024 The deadlines for complete applications to be received in the USDA Rural Development State Office for quarterly funding competitions are no later than 4:30 p.m. (local time) on: Second Quarter, December 31, 2023; Third Quarter, March 31, 2024 and Fourth Quarter, June 30, 2024.

Bureau/Office:

Rural Utilities Service

Funded by:

U.S. Department of Agriculture

Overview

The Rural Economic Development Loan and Grant programs provide 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 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 fund to projects that will create or retain rural jobs. When the revolving loan fund is terminated, the grant is repaid to USDA.

Please Note Eligibility Requirements: To receive funding (which will be forwarded to selected eligible projects), an entity must be: A former Rural Utilities Service borrower who borrowed, repaid or pre-paid an insured, direct or guaranteed loan. Nonprofit utilities that are eligible to receive assistance from the Rural Development Electric or Telecommunication Programs.Current Rural Development Electric or Telecommunication Programs borrowers.

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

Please visit the webpage for the program here.

How to apply video series by USDA Rural Development Office can be found here.

Contact Information

USDA Rural Development State Offices can be found here.

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