The U.S. Department of Agriculture (USDA) is seeking applications for loans and grants to help support the start-up or expansion of rural businesses, announced USDA Rural Development State Director Vicki Walker today.
Funding is being provided through the Rural Economic Development Loan and Grant (REDLG) Program. Under this program, USDA provides zero-interest loans and grants to local utilities to establish revolving funds for projects that will create or retain jobs in rural areas.
Since 2009, USDA has invested more than $330 million through the REDLG Program. This year, USDA is making $37 million in loans and $11 million in grants available nationwide. An individual recipient may receive a loan of up to $1 million, or a grant of up to $300,000.
The first round of applications are due March 31, 2016, and the second round of applications are due June 30, 2016. In Oregon, applications should be submitted to:
USDA Rural Development
ATTN: Lisa Siesennop, Business & Cooperative Programs
1220 SW 3rd Avenue, Suite 1801
Portland, OR 97204
For additional information, see page 14415 of the March 17 Federal Register.
President Obama’s historic investments in rural America have made our rural communities stronger. Under his leadership, these investments in housing, community facilities, businesses, and infrastructure have empowered rural America to continue leading the way – strengthening America’s economy, small towns, and rural communities.