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Rural Economic Development Loan and Grant Program

      • Granting Agency: USDA
      • Appropriation Amount: $44,500,000, Maximum grant amount $300,000, 20% match
      • Announcement Date: April 5, 2021
      • Closing Date: June 30, 2021

Purpose: Provides funding to rural projects through local utility organizations

Eligible Expenditures:
Business incubators, Community Development assistance to nonprofits and public bodies, facilities and equipment for education and training for rural residents to facilitate economic development, Facilities and equipment for medical care to rural residents, Start-up venture costs, including, but not limited to, financing fixed assets such as real estate, buildings (new or existing), equipment or working capital, Business expansion, and Technical Assistance.

Eligible Applicants: Any former Rural Utilities Service (RUS) 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; or Current Rural Development Electric or Telecommunication Borrowers.