Rural Economic Development Loan and Grant Program Now Open
USDA is seeking Fiscal Year 2019 applications for projects that promote economic development and create jobs in rural areas. Funding is being provided under USDA’s Rural Economic Development Loan and Grant (REDLG) Program. This program supports rural projects through local utility organizations. USDA provides zero-interest loans to utilities which they, in turn, pass through to local businesses (ultimate recipients) for projects that will create and retain employment in rural areas. The maximum loan is $2 million. The maximum grant is $300,000.
Information on how to apply is available on page 57401 of the Nov. 15, 2018 Federal Register. Applications for projects located in Delaware and/or Maryland should be submitted to the USDA Rural Development Delaware/Maryland State Office. Applications are due on the following dates:
- Dec. 31, 2018 (Second Quarter)
- March 31, 2019 (Third Quarter)
- June 30, 2019 (Fourth Quarter)
USDA encourages applications that will support recommendations made in the report to the President from the Task Force on Agriculture and Rural Prosperity to help improve life in rural America. Applicants are encouraged to consider projects that provide measurable results in helping rural communities build robust and sustainable economies through strategic investments in infrastructure, partnerships and innovation. Key strategies include:
- Achieving e-Connectivity for Rural America
- Developing the Rural Economy
- Harnessing Technological Innovation
- Supporting a Rural Workforce
- Improving Quality of Life
For questions or more information, contact Business & Cooperative Programs at (302) 857-3628.