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Amended Notice of Solicitation of Applications for the Rural Economic Development Loan and Grant Programs for Fiscal Year 2025 : On Nov 21, 2024 an Amendment was issued to Notice of Solicitation of Applications for the Rural Economic Development Loan and Grant Programs for Fiscal Year 2025. Link to Amended NOSA.
- Notice: This program is only open to current or former Rural Utilities Service Electric or Telecommunication borrowers and not-for-profit utilities eligible under the Rural Electrification Act.
What do these programs do?
- Current Rural Utilities Service (RUS), electric or telecommunication borrower,
- Any former RUS borrower that has repaid or prepaid an insured, direct or guaranteed loan under the Rural Electrification Act,
- Or any not-for-profit utility that is eligible to receive an insured or direct loan under such Act.
- Maximum Grant Amount: $300,000 to establish the Revolving Loan Fund.
- Up to 10 percent of grant funds may be applied toward operating expenses over the life of the Revolving Loan Fund.
- Maximum Loan Amount: $1 million.
- Business incubators.
- Community development assistance to nonprofits and public bodies (particularly for job creation or enhancement).
- Facilities and equipment to educate and train rural residents to help economic development.
- Facilities and equipment for medical care for rural residents.
- Start-up venture costs, including, but not limited to, financing fixed assets such as real estate, buildings, equipment, or working capital.
- Business expansion.
- Technical assistance.
• 10 years at zero percent interest.
• Grants require a 20 percent match from the local utility.
• Grants must be repaid to USDA upon termination of the Revolving Loan Fund.
- The interest rate is zero percent.
- Up to 80 percent of project costs; 20 percent must be provided by the ultimate recipient or the local utility.
- The local utility may incorporate interest rates or administrative loan fees after the funds have been loaned out and revolved once. First-time loans are at zero percent interest.
- Repayment may be deferred up to two years for projects including a start-up venture or Community Facilities project.
- Basic Program – Code of Federal Regulations, 7 CFR, Part 4280.
- Loan/Grant Servicing – Code of Federal Regulations, 7 CFR, Part 4280 and 2 CFR Part 200.
- These programs are authorized by the Rural Electrification Act of 1936.
NOTE: If state specific forms are not shown above, please ensure that your state is selected in the dropdown menu above to find the State Office contact information and speak to a Business Programs Specialist before attempting to fill out any forms or applications. This will save you valuable time in your application.
RBCS How-To Apply Video Series for Applicants
You may also access the Code of Federal Regulations, 7 CFR, Part 4280.
There are no additional requirements.
Connecticut
Norwich Area Office
Serving Windham and New London Counties
238 West Town Street
Norwich, CT 06360
Phone: (860)887-3604 Ext. 4
Fax: 855-947-9638
Area Director: Tricia Anderson
Tricia.Anderson@usda.gov
(P) (508) 295-5151 ext. 7241
Windsor Area Office
Serving Tolland, Middlesex, Hartford, Litchfield, New Haven, and Fairfield Counties
100 Northfield Drive, Floor 4
Windsor, CT 06095
Phone: (860)902-5382
Fax: 855-947-9638
Area Director: Tricia Anderson
Tricia.Anderson@usda.gov
(P) (508) 295-5151 ext. 7241
Massachusetts
Hadley Area Office
Serving Berkshire, Hampshire, Franklin, and Hampden Counties
195 Russel Street, B7
Hadley, MA 01035
Phone: (413) 585-1000 Ext. 4
Fax: 855-596-7672
Area Director: Lyndon Nichols
Lyndon.nichols@usda.gov
(P) 413-585-3244
(C) 857-321-2704
Holden Area Office
Serving Worcester, Middlesex, Essex, and Suffolk counties
52 Boyden Road
Holden, MA 01520
Phone: (508) 829-4477 Ext. 4
Fax: 855-596-7672
Area Director: Lyndon Nichols
Lyndon.nichols@usda.gov
(P)508-829-4477 ext 7031
(C) 857-321-2704
Wareham Area Office
Serving Bristol, Norfolk, Plymouth, Dukes, Nantucket, and Barnstable counties
8 Thatcher Lane
Wareham, MA 02571
Phone: (508) 295-5151 Ext. 4
Fax: 855-596-7672
Area Director: Anne Correia
Anne.Correia@usda.gov
(P) 508-295-5151 ext. 7242
(C) 857-321-2697
Rhode Island
Warwick Office
Serving Rhode Island
60 Quaker Lane, Suite 44
Warwick, RI 02886
Phone: (401) 826-0842
Fax: 855-944-7488
Area Director: Anne Correia
Anne.Correia@usda.gov
(P) 508-295-5151 ext. 7242
(C) 857-321-2697