The U.S. Department of Agriculture (USDA) Rural Development is accepting applications to establish revolving loan programs to support rural businesses and community development projects.
Subject to the availability of funds, the loans will be established through USDA's Intermediary Relending Program. Nonprofits, cooperatives, federally-recognized tribes, and public agencies are eligible to apply.
The revolving loan funds may issue loans for the purchase, construction, or expansion of a rural business; purchase or development of land; purchase of equipment, machinery, or supplies; or for start-up costs and working capital.
USDA anticipates program funding and is issuing this notice now to allow applicants enough time to leverage financing, prepare and submit applications, and to give the agency time to process those applications during the fiscal year.
This funding is awarded on a competitive basis. Paper and electronic applications must be received no later than 4:30 pm PST by the following quarterly deadlines:
- Second Quarter: December 31, 2020
- Third Quarter: March 31, 2021
- Fourth Quarter: June 30, 2021
In Oregon, electronic applications should be submitted by email to eben.fisher@usda.gov. Paper applications should be submitted to the Oregon state office:
USDA Rural Development
ATTN: Eben Fisher
1220 SW 3rd Avenue
Suite 1801
Portland, OR 97204
To discuss a potential application, contact Eben Fisher, Business and Cooperative Programs Specialist, (541) 278-8049 x129. Additional information is available on page 78821 of the December 7, 2020, Federal Register.