Grants to Expand or Start-Up Rural Businesses

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Washington -  Rural Business Cooperative-Service announced today the 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.

Since 2009, USDA has invested more than $330 million in loans and grants through the REDLG program.

For information on how to apply for REDLG loans or grants, contact your Rural Development state office. The first round of applications is due March 31, 2016, and the second round of applications is due June 30, 2016.
 

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