Rural Economic Development Loan & Grant Program

Type: 
Funding
Event Date: 
05/29/2016 8 pm PDT
Organization: 
USDA
Description: 

Unknown for 2017. The Rural Economic Development Loan (REDL) and Grant (REDG) programs provide funding to rural projects through local utility organizations. Under the REDLoan program, 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 the Agency.

Category: 
Economic Development, Rural Development, Grants and Loans
Funding Amount: 
$11 million total in grants, over $30 million total in loans available
Matching Funds: 
see application

Geography:

Eligibility: 
Loans and grants may be made to any entity that is identified by USDA Rural Development as an eligible borrower under the Rural Electrification Act of 1936, as amended (Act). In accordance with 7 CFR 4280.13, applicants that are not delinquent on any Federal debt or otherwise disqualified from participation in these programs are eligible to apply