This program is specifically designed for businesses like yours in rural areas. By applying, you can access loans up to $2,000,000 and grants up to $300,000. This funding can directly support projects that create or retain jobs in your community. With zero-interest loans, you won’t pay more than you borrow, allowing you to reinvest those savings into your business.

Getting approved means you can make substantial improvements without stretching your finances. The grant funding can kickstart a revolving loan fund, offering additional resources for future projects. By participating, you're not just enhancing your business; you're also contributing to the economic growth of your rural community.

The best part? There's no minimum revenue requirement and no limit on the number of employees your business can have. This makes it easier for you to qualify and secure the funding you need. Don't miss out on the chance to strengthen your business while benefiting your community.

The financing provided includes both Loans and Grants.

Loans:

• Amount: Up to $2,000,000.
• Interest Rate: Zero-interest. This means you won't pay any extra money on top of what you borrow.
• Repayment: You'll repay the lending utility directly. The utility will then repay the USDA.

Grants:

• Amount: Up to $300,000.
• Structure: These funds are provided to local utility organizations, which then create Revolving Loan Funds. When these funds are terminated, the grant amount is repaid to the USDA.

Eligible and Ineligible Expenses:

• Eligible Expenses: Funds can be used for projects that create or retain jobs in rural areas.

• Ineligible Expenses: The specifics on what's not covered aren't provided, but typically, funds cannot be used for personal expenses or projects that do not directly contribute to rural employment.

Fees:

Currently, there are no specific fees associated with the program mentioned. Always double-check with the local utility organization for any updates.

• Location: Business must be located in a rural area.
• Sectors: Open to all sectors.
• Employees: No minimum or maximum employee requirements.
• Company Revenue: No minimum or maximum revenue requirements.
• Legal Structure: All legal structures are applicable.
• Profit Structure: All profit structures are applicable.

Disqualifications: No specific disqualifications mentioned.

This program benefits your business by providing funding for rural projects through local utility organizations. You can access loans up to $2,000,000 and grants up to $300,000. This money can be used for projects that create or retain jobs in your rural community.

The loans are zero-interest, which means you won’t pay extra on top of what you borrow. You repay the lending utility directly, easing the financial burden on your business. The grant funding can help establish a revolving loan fund, allowing for further investment into projects that support job growth.

Overall, this program is designed to strengthen your business and boost employment in your area. It's a significant opportunity to access funds that can make a real difference in your rural project.