Rural Economic Development Loan & Grant Program in Michigan
- A former Rural Utilities Service borrower who borrowed, repaid or pre-paid an insured, direct or guaranteed loan.
- Nonprofit utilities that are eligible to receive assistance from the Rural Development Electric or Telecommunication Programs.
- Current Rural Development Electric or Telecommunication Programs borrowers.
- Up to $300,000 in grants may be requested to establish the Revolving Loan Funds.
- Up to 10 percent of grant funds may be applied toward operating expenses over the life of the Revolving Loan Fund.
- Up to $1 million in loans may be requested.
- 10 years at 0 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.
- 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 facilitate 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.
- The interest rate is 0 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 0 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.
- This program is 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.
You may also access the Code of Federal Regulations, 7 CFR, Part 4280.
There are no other additional requirements at the national level. If there are additional state-specific requirements they will be listed above.
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USDA RD State Office
3001 Coolidge Rd.
East Lansing, MI 48823
517-324-5190 | Fax 855-813-7741
Public Information Coordinator
Community Programs Staff
Single Family Housing Staff
Business Programs Staff
Multi-Family Housing Staff
Gladstone Area Office
2003 Minneapolis Ave.
Gladstone, MI 49783
906-428-1060 Ext. 4
Sault Ste. Marie Office
Sault Ste. Marie, MI 49783
906-632-9611 Ext. 4
Traverse City Area Office
1501 Cass St., Suite A
Traverse City, MI 49684
231-941-0951 Ext. 4
West Branch Office
240 W. Wright St.
West Branch, MI 48661
989-345-5470 Ext. 4
Caro Area Office
1075 Cleaver Rd.
Caro, MI 48723
989-673-8173 Ext. 6
Grand Rapids Area Office
3260 Eagle Park Dr., Suite 107
Grand Rapids, MI 49525
616-942-4111 Ext. 6
Paw Paw Office
1035 East Michigan Ave., Suite A
Paw Paw, MI 49079
269-657-7055 Ext. 4
Mason Area Office
525 N. Okemos St., Suite B
Mason, MI 48854
517-676-4644 Ext. 4
1525 North Elms Rd.
Flint, MI 48532
810-230-8766 Ext. 4