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.

Active 10.854 Rural Business-Cooperative Service, Department of Agriculture B - Project Grants; E - Direct Loans; F - Guaranteed/Insured Loans Not applicable. Rural Electrification Act of 1936, as amended, Title III, 7 U.S.C. 930-940c. 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. Rural/General Public. This program is excluded from coverage under OMB Circular No. A-87. This program is excluded from coverage under OMB Circular No. A-87. 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 Open ended. Not applicable. Renewal of same application for 1 year. Submit new or revised application as often as desired. See 7 CFR 4280.42. 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. Performance Reports: Reporting need established in 7 CFR 4280, Subpart A. Not applicable. Record retention requirements established in 7 CFR 4280, Subpart A. 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. annually Method of awarding/releasing assistance: Lump. 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
RBCS@usda.gov
Phone: (202) 720-1400. http://www.rd.usda.gov/programs-services/rural-economic-development-loan-grant-program 12-4230-0-3-271 (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 - Loans and Grants to establish Revolving Loan Fund Programs. 7 CFR 4280, Subpart A and the Rural Electrification Act of 1936. Not applicable.