Rural Economic Development Loans and Grant

Type of Assistance: Loans
Industry: Cities, Counties, Non-profit, Other, Townships
Maximum Amount Available: $450,000

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Qualifier or Eligibility

• Local and state governments and non-profits
• Criteria: Long term rural economic
• development and job creation,
• communities with the greater economic and
• job hardship, business start-ups,
• incubators and medical projects.
• Majority of funding for community under
• 25,000.

Funds

• Grants $10,000 - $200,000.
• Match 20% used for revolving loans.
• Loans: (non interest loans)
• $10,000 -$450,000. Term: 10 years. All
• loans will be secured. Loans may be
• deferred up to 2 years. Fees: 2 % of
• principal amount.