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 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.
Rural Business Cooperative-Service Administrator Sam Rikkers says the loans and grants will “spur entrepreneurship, create jobs and improve the quality of life in rural America.”
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.
USDA says anyone interested in applying for the grants and loans should contact their local Rural Development state office.
