# Rural Economic Development Loan and Grant

Source: https://welltoldgrants.com/grants/rd-rbcs-24-redlg-rural-economic-development-loan-and-grant/  
Official notice: https://www.grants.gov/search-results-detail/351546

> Rural Business-Cooperative Service offered grants of up to $2.0 million to the applicants described in the notice. It expected to make about 40 awards. Applications closed on June 30, 2024.

| Field | Value |
|---|---|
| Opportunity number | RD-RBCS-24-REDLG |
| Agency | Rural Business-Cooperative Service |
| Status | Forecast |
| Deadline | June 30, 2024 |
| Award ceiling | $2.0 million |
| Award floor | not stated |
| Expected awards | 40 |
| Total funding | not stated |
| Cost sharing | required |
| Assistance Listings | 10.854 |

## Who can apply

- Others (see text field entitled "Additional Information on Eligibility" for clarification)

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.

## What the grant funds

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.

## Questions people ask

### Is RD-RBCS-24-REDLG still open?

No. It closed on June 30, 2024.

### Who can apply for Rural Economic Development Loan and Grant?

Rural Business-Cooperative Service accepted applications from the applicants described in the notice. The notice adds further conditions, so read its eligibility section.

### What is the deadline for Rural Economic Development Loan and Grant?

Closed June 30, 2024. Applications are no longer accepted; the program's newer notices are on this page when there are any.

### How much funding is available?

Awards of up to $2.0 million each.

### Who has won Rural Economic Development Loans and Grants grants before?

The largest recipients over five fiscal years were Four County Electric Membership Corporation, Blue Ridge Electric Membership Corporation, Pee Dee Electric Membership Corp. The program made 155 awards worth $43.1 million in that time.