United States Department of Agriculture (USDA) Deputy Under Secretary for Rural Development Justin Maxson announced that the department is accepting loan and grant applications for projects that create jobs and economic growth in rural communities.
Funds are being made available under the Rural Economic Development Loan and Grant (REDLG) program. Through the REDLG program, USDA provides zero-interest loans and grants to Rural Utilities Service (RUS) Electric Program and Telecom Program borrowers who will use the funds to help local businesses finance projects that will create and retain jobs. Projects must be located in rural areas or towns with a population of 50,000 or less.
Funds may be used to support:
- business startup costs;
- business expansion;
- business incubators;
- technical assistance feasibility studies;
- advanced telecommunications services and computer networks for medical, educational and job training services; and
- community facilities projects that spur economic development.
Eligible applicants include current, former and potential borrowers of Rural Development’s Electric Program and Telecommunications Program.
Applications are being accepted continuously with funding competition deadlines on Sept. 30, 2021; Dec. 31, 2021; March 31, 2022; and June 30, 2022.
Applications submitted no later than 4:30 p.m. local time on the deadline dates to the USDA Rural Development State Office where the project is located and will compete for the available REDLG funds in that quarter.
Interested applicants are encouraged to contact their local USDA Rural Development State Office well in advance of the application deadline to ask questions about their project, the program or the application process.