Rural Economic Development Loans and Grants
To promote rural economic development and job creation projects, including funding for project feasibility studies, start-up costs, incubator projects, and other reasonable expenses for the purpose of fostering rural development.
General information about this opportunity
Last Known Status
Rural Business-Cooperative Service, Department of Agriculture
Type(s) of Assistance Offered
B - Project Grants; E - Direct Loans; F - Guaranteed/Insured Loans
Rural Electrification Act of 1936, as amended, Title III, 7 U.S.C. 930-940c.
Who is eligible to apply/benefit from this assistance?
Electric and telephone utilities that have current loans with the Rural Utilities Service (RUS), Rural Telephone Bank loans, or guarantees outstanding and are not delinquent on any Federal debt or in bankruptcy proceedings.
This program is excluded from coverage under OMB Circular No. A-87. This program is excluded from coverage under OMB Circular No. A-87.
What is the process for applying and being award this assistance?
Preapplication coordination is required. An environmental impact statement is required for this listing. An environmental impact assessment is required for this listing. Pre-application coordination is required. An environmental impact statement is required for this program. An environmental impact assessment is required for this program. This program is excluded from coverage under E.O. 12372.
2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards applies to this program. Submit application as described in 7 CFR 4280.39, no State plan required.
RBS selects projects to be funded. The funds pass through the RUS utility to rural economic development projects.
Contact the headquarters or regional location, as appropriate for application deadlines
Approval/Disapproval Decision Time
Renewal of same application for 1 year. Submit new or revised application as often as desired.
How are proposals selected?
See 7 CFR 4280.42.
How may assistance be used?
This program is for projects which promote rural economic development and job creation. Maximum amount of grant is $300,000; maximum amount of loan is $2,000,000. Maximum term and interest rates vary by project.
What are the requirements after being awarded this opportunity?
Reporting need established in 7 CFR 4280, Subpart A.
Record retention requirements established in 7 CFR 4280, Subpart A.
Other Assistance Considerations
Formula and Matching Requirements
Statutory formula is not applicable to this assistance listing.
Matching is mandatory. 20%. This program has no statutory formula. Matching Requirements: Percent: 20%. This program requires supplemental funds in the amount of 20 percent of the RBS application amounts. MOE requirements are not applicable to this program.
MOE requirements are not applicable to this assistance listing.
Length and Time Phasing of Assistance
annually Method of awarding/releasing assistance: Lump.
Who do I contact about this opportunity?
Regional or Local Office
Contact your Rural Development State Office - go to this website to see a full listing. http://www.rd.usda.gov/contact-us/state-offices.
Specialty Lenders Division,
1400 Independence Ave. S.W. Mail-Stop 3226
Washington, DC 20250 US
(Loan Guarantees/Grants) FY 18$0.00; FY 19 est $46,900,000.00; FY 20 Estimate Not Available FY 17$85,000,000.00; FY 16$33,000,000.00; - REDLG is a loan and grant program.(Project Grants) FY 18$10,000,000.00; FY 19 est $9,380,000.00; FY 20 Estimate Not Available FY 17 - (Direct Loans) FY 18$58,000,000.00; FY 19 Estimate Not Available FY 20 FY 17 -
Range and Average of Financial Assistance
Loans and Grants to establish Revolving Loan Fund Programs.
Regulations, Guidelines and Literature
7 CFR 4280, Subpart A and the Rural Electrification Act of 1936.
Examples of Funded Projects