USDA Seeks Applications for Loans and Grants to Help Grow Rural Businesses
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.