OpportunityTitle: Revolving Fund Program
AdditionalInformationOnEligibility: An applicant is eligible to apply for the RFP grant if it:  1.  Is a private, non-profit organization that has tax-exempt status from the United States Internal Revenue Service (IRS);  2.  Is legally established and located within one of the following:  (a) A state within the United States;  (b) The District of Columbia;  (c) The Commonwealth of Puerto Rico; or  (d) A United States territory;  3.  Has the legal capacity and authority to carry out the grant purpose;  4. Has a proven record of successfully operating a revolving loan fund to rural areas;  5. Has capitalization acceptable to the Agency, and is composed of at least 51 percent of the outstanding interest or membership being citizens of the United States or individuals who reside in the United States after being legally admitted for permanent residence;  6. Has no delinquent debt to the Federal Government or no outstanding judgments to repay a Federal debt;  7. Demonstrates that it possesses the financial, technical, and managerial capability to comply with Federal and State laws and requirements.
Description: Drinking water systems are basic and vital to both health and economic development. With dependable water facilities, rural communities can attract families and businesses that will invest in the community and improve the quality of life for all residents. Without dependable water facilities, the communities cannot sustain economic development.Rural Development provides financial and technical assistance to help communities bring safe drinking water and sanitary,environmentally sound waste disposal facilities to rural Americans in greatest need. It supports the sound development of rural communities and the growth of our economy without endangering theenvironment.The Revolving Fund (RFP) Grant Program has been established to assist communities with water or wastewater systems. Qualified private non-profitorganizations will receive RFP grant funds to establish a lending program for eligible entities. Eligible entities for the revolving loan fund will be the same entities eligible to obtain a loan, loan guarantee, or grant from the Water and Waste Disposal loan and grant programsadministered by Rural Development. As grant recipients, the non-profit organizations will set up a revolving loan fund to provide loans to finance predevelopment costs of water or wastewater projects, or short-term small capital projects not part of the regular operation and maintenance of current water and wastewater systems. The amount of financing to an eligible entity shall not exceed $100,000.00 and shallbe repaid in a term not to exceed 10 years. The interest rate on loans made under RFP shall be determined in the approved grant work plan
GrantorContactEmailDescription: Government Email Address
GrantorContactText: Lorrie Davis &lt;br/&gt;Loan Specialist &lt;br/&gt;Phone 202-720-9631