USDA Rural Development Wisconsin State Director, Stan Gruszynski, announced that USDA is seeking applications for loans and grants to help support the start-up or expansion of rural businesses.
The 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, which use the funding to create revolving funds for projects that will create or retain jobs in rural areas.
USDA is making $37 million in loans and $11 million in grants available. A recipient may receive a loan of up to $1 million, or a grant of up to $300,000.
For information on how to apply for REDLG loans or grants, contact the USDA Rural Development Wisconsin State Office at 715-345-7635 or via e-mail at RD.BCP@wi.usda.gov, or see page 14415 of the March 17 Federal Register. The first round of applications is due March 31, 2016, and the second round of applications is due June 30, 2016.
During the past year, USDA Rural Development invested nearly $577 million throughout rural Wisconsin and helped a record number of residents receive funding for economic development projects and quality of life improvements. The agency’s investment in Wisconsin helped create or retain more than 1,560 jobs; aided 3,000 families in buying their own homes; and assisted more than 80 communities in improving community facilities and upgrading local infrastructure. For more information on USDA Rural Development programs visit USDA’s web site at www.rd.usda.gov/wi.