Rural Economic Development Loan and Grant

The summary for the Rural Economic Development Loan and Grant grant is detailed below. This summary states who is eligible for the grant, how much grant money will be awarded, current and past deadlines, Catalog of Federal Domestic Assistance (CFDA) numbers, and a sampling of similar government grants. Verify the accuracy of the data FederalGrants.com provides by visiting the webpage noted in the Link to Full Announcement section or by contacting the appropriate person listed as the Grant Announcement Contact. If any section is incomplete, please visit the website for the Rural Business Cooperative Service, which is the U.S. government agency offering this grant.

Rural Economic Development Loan and Grant: Agency Name: Rural Business-Cooperative ServiceDescription:The Rural Economic Development Loan and Grant programs provide funding for rural projects through local utilityorganizations. 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 thelending 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 (RLFs). Loansare made from the revolving loan funds to projects that will create or retain rural jobs. When the revolving loan fund isterminated, the grant is repaid to USDA.The Agency anticipates the following maximum amounts per award: Loans - $2,000,000; Grants - $300,000.