OpportunityTitle: Rural Economic Development Loan and Grant
AdditionalInformationOnEligibility: To receive funding (which will be forwarded to selected eligible projects), an entity must be: A former Rural Utilities Service borrower who borrowered, 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.
Description: 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.
GrantorContactEmailDescription: Program Manager
GrantorContactText: Cindy Mason &lt;br/&gt;Business Loan and Grant Analyst &lt;br/&gt;Phone 202-690-1433
CloseDateExplanation: 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, 2024; Second Quarter, December 31, 2024; Third Quarter, March 31, 2025 and Fourth Quarter, June 30, 2025.