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.
IDAHO—Business Program Team Contacts
Field Processing Offices
Idaho State Office (Boise)
Program Director: Tim Wheeler Office: (208) 327-6463
Business Programs Specialist: Libby Harris Office: (208) 378-5615
Business Loan Assistant: Kari Cussins Office: (208) 327-6464
Western Idaho (Caldwell)
(Ada, Boise, Canyon, Gem, West Owyhee, Elmore, East Owyhee, Adams, Payette, Valley, Washington)
Business Program Specialist, Carol Bacon (208) 779-3439
Northern Idaho (Coeur d’Alene)
(Benewah, Bonner, Boundary, Kootenai, Shoshone, Clearwater, Idaho, Lewis, Latah, Nez Perce)
Business Program Specialist, Michelle Noordam (208) 209-4360
Central Idaho (Twin Falls)
(Blaine, Camas, Cassia, Gooding, Jerome, Lincoln, Minidoka, Twin Falls)
Business Program Specialist, Jeremy French (208) 944-3754
Eastern Idaho (Blackfoot)
(Bannock, Bingham, Butte, Custer, Lemhi, Power, Bonneville, Bear Lake, Caribou, Franklin, Oneida, Clark, Fremont, Jefferson, Madison, Teton)
Business Program Specialist, Nathan Drake (208) 690-3537
B&I Program Training Opportunities
USDA Rural Development Business Program Specialists are available to provide B&I program training to partner bank staff. Contact an Idaho Team member to discuss training opportunities and schedules.