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View Grant Opportunity
General Information
| Document Type: | Grants Notice |
| Funding Opportunity Number: | RD-RBCS-24-REDLG |
| Funding Opportunity Title: | Rural Economic Development Loan and Grant |
| Opportunity Category: | Discretionary |
| Opportunity Category Explanation: | |
| Funding Instrument Type: | Other |
| Category of Funding Activity: | Agriculture Business and Commerce Community Development Education Health Regional Development |
| Category Explanation: | |
| Expected Number of Awards: | 40 |
| Assistance Listings: | 10.854 -- Rural Economic Development Loans and Grants |
| Cost Sharing or Matching Requirement: | Yes |
| Version: | Synopsis 2 |
| Posted Date: | Dec 18, 2023 |
| Last Updated Date: | Dec 18, 2023 |
| Original Closing Date for Applications: | Jun 30, 2024 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, 2023; Second Quarter, December 31, 2023; Third Quarter, March 31, 2024 and Fourth Quarter, June 30, 2024. |
| Current Closing Date for Applications: | Jun 30, 2024 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, 2023; Second Quarter, December 31, 2023; Third Quarter, March 31, 2024 and Fourth Quarter, June 30, 2024. |
| Archive Date: | |
| Estimated Total Program Funding: | |
| Award Ceiling: | $2,000,000 |
| Award Floor: | $0 |
Eligibility
| Eligible Applicants: | Others (see text field entitled "Additional Information on Eligibility" for clarification) |
| Additional Information on Eligibility: | To receive funding (which will be forwarded to selected eligible projects), an entity must be: A former Rural Utilities Service borrower who borrowed, 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. |
Additional Information
| Agency Name: | Rural Business-Cooperative Service |
| Description: | The Rural Economic Development Loan and Grant program provides funding for rural projects through local utility organizations. 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 the lending 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 (RLF). Loans are made from the revolving loan funds to projects that will create or retain rural jobs. When the revolving loan fund is terminated, the grant is repaid to USDA. The Agency anticipates the following maximum amounts per award: Loans - $2,000,000; Grants - $300,000. |
| Link to Additional Information: | REDLG Program Web Site |
| Grantor Contact Information: | If you have difficulty accessing the full announcement electronically, please contact: Cindy Mason
Program Manager |