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Rural Economic Development Loan and Grant

ID: RD-RBCS-23-REDLG • Type: Posted

Description

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.

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Overview

Agency
Rural Business Cooperative Services (RBCS) [USDA - RHS - HQ]
Category of Funding
Agriculture
Business and Commerce
Community Development
Education
Health
Regional Development
Funding Instruments
Other
Grant Program (CFDA)
10.854 - Rural Economic Development Loans and Grants
Grant Category
Discretionary
Cost Sharing / Matching Requirement
True
Source
Grants.gov
On 8/31/22 Rural Business Cooperative Services posted grant opportunity RD-RBCS-23-REDLG for Rural Economic Development Loan and Grant. The grant will be issued under grant program 10.854 Rural Economic Development Loans and Grants. It is expected that 40 total grants will be made.

Timing

Posted Date
Aug. 31, 2022, 12:00 a.m. EDT
Closing Date
June 30, 2023, 12:00 a.m. EDT Past Due
Closing Date Explanation
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: First Quarter, September 30, 2022; Second Quarter, December 31, 2022; Third Quarter, March 31, 2023 and Fourth Quarter, June 30, 2023.
Last Updated
Aug. 31, 2022, 9:06 a.m. EDT
Version
2

Eligibility

Eligible Applicants
Others (see text field entitled "Additional Information on Eligibility" for clarification)
Additional Info
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.

Award Sizing

Ceiling
$2,000,000
Floor
Not Listed
Estimated Program Funding
Not Provided
Estimated Number of Grants
40

Contacts

Contact
Andrew A Jermolowicz Agricultural Economist
Contact Email
cindy.mason@usda.gov   Profile
Email Description
Program Manager
Contact Phone
(202) 720-8460
Additional Information
REDLG Program Web Site
Additional Information Site
https://www.rd.usda.gov/programs-services/business-programs/rural-economic-development-loan-grant-program

Documents

Posted documents for RD-RBCS-23-REDLG

Grant Awards

Grants awarded through RD-RBCS-23-REDLG

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