USDA Rural Development Nevada State Director Phil Cowee is encouraging rural utilities to apply for the Rural Economic Development Loan and Grant (REDLG), a zero percent loan and grant that supports economic development and creates jobs.
“Our agency approved Nevada’s first REDLG project last year, in Ely, with a $1 million loan to Mount Wheeler Power,” Cowee said. “Mount Wheeler Power will relend the funds to White Pine County to help fund construction of a new White Pine Justice Court. We encourage other utilities to explore this under-utilized loan to support rural economies and jobs.”
USDA’s Rural Economic Development Loan and Grant (REDLG) Program supports rural projects through local utility organizations.
USDA provides zero-interest loans to utilities which, they in turn, pass through to local community facilities through a revolving loan fund. The goal is to support rural business start-ups or expansion projects that create rural jobs, and priority is given to rural areas with populations of 50,000 or less. The maximum loan is $2 million; the loan term is 10 years at zero percent.
The maximum grant is $300,000, which is strictly a revolving loan fund. Grants require a 20% match from the intermediary or grant recipient. Grants must be repaid to the USDA upon termination of the revolving loan fund.
Applications are due on the following dates:
• March 31, 2019 (Third Quarter)
• June 30, 2019 (Fourth Quarter)
Information on how to apply is available on page 57401 of the Nov. 15, 2018 Federal Register.
For more information in Nevada, contact:
Business Programs Director Herb Shedd
1390 S. Curry St.
Carson City, NV 89703
(775) 887-1222 Ext. 4766
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
STAKEHOLDER ANNOUNCEMENT
Utilities Eligible to Apply for Zero Percent Loan to Assist Rural Communities
Applications due March 31, 2019
(CARSON CITY, Nev. Feb. 25, 2019) USDA Rural Development Nevada State Director Phil Cowee is encouraging rural utilities to apply for the Rural Economic Development Loan and Grant (REDLG), a zero percent loan and grant that supports economic development and creates jobs.
“Our agency approved Nevada’s first REDLG project last year, in Ely, with a $1 million loan to Mount Wheeler Power,” Cowee said. “Mount Wheeler Power will relend the funds to White Pine County to help fund construction of a new White Pine Justice Court. We encourage other utilities to explore this under-utilized loan to support rural economies and jobs.”
USDA’s Rural Economic Development Loan and Grant (REDLG) Program supports rural projects through local utility organizations.
USDA provides zero-interest loans to utilities which, they in turn, pass through to local community facilities through a revolving loan fund. The goal is to support rural business start-ups or expansion projects that create rural jobs, and priority is given to rural areas with populations of 50,000 or less. The maximum loan is $2 million; the loan term is 10 years at zero percent.
The maximum grant is $300,000, which is strictly a revolving loan fund. Grants require a 20% match from the intermediary or grant recipient. Grants must be repaid to the USDA upon termination of the revolving loan fund.
Applications are due on the following dates:
• March 31, 2019 (Third Quarter)
• June 30, 2019 (Fourth Quarter)
Information on how to apply is available on page 57401 of the Nov. 15, 2018 Federal Register.
For more information in Nevada, contact:
Business Programs Director Herb Shedd
1390 S. Curry St.
Carson City, NV 89703
(775) 887-1222 Ext. 4766
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
STAKEHOLDER ANNOUNCEMENT
Utilities Eligible to Apply for Zero Percent Loan to Assist Rural Communities
Applications due March 31, 2019
USDA Rural Development Nevada State Director Phil Cowee is encouraging rural utilities to apply for the Rural Economic Development Loan and Grant (REDLG), a zero percent loan and grant that supports economic development and creates jobs.
“Our agency approved Nevada’s first REDLG project last year, in Ely, with a $1 million loan to Mount Wheeler Power,” Cowee said. “Mount Wheeler Power will relend the funds to White Pine County to help fund construction of a new White Pine Justice Court. We encourage other utilities to explore this under-utilized loan to support rural economies and jobs.”
USDA’s Rural Economic Development Loan and Grant (REDLG) Program supports rural projects through local utility organizations.
USDA provides zero-interest loans to utilities which, they in turn, pass through to local community facilities through a revolving loan fund. The goal is to support rural business start-ups or expansion projects that create rural jobs, and priority is given to rural areas with populations of 50,000 or less. The maximum loan is $2 million; the loan term is 10 years at zero percent.
The maximum grant is $300,000, which is strictly a revolving loan fund. Grants require a 20% match from the intermediary or grant recipient. Grants must be repaid to the USDA upon termination of the revolving loan fund.
Applications are due on the following dates:
• March 31, 2019 (Third Quarter)
• June 30, 2019 (Fourth Quarter)
Information on how to apply is available on page 57401 of the Nov. 15, 2018 Federal Register.
For more information in Nevada, contact:
Business Programs Director Herb Shedd
1390 S. Curry St.
Carson City, NV 89703
(775) 887-1222 Ext. 4766
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