Rural economic development grants promote rural economic development
The Rural Economic Development Loan and Grant Program provides loan funds to electric and telephone utilities financed by the Rural Utilities Service. The RUS is an agency of the U.S. Department of Agriculture that promotes sustainable rural economic development and job creation projects through a revolving loan fund program.
The RUS utility must relend, at zero-percent interest, the loan proceeds to an eligible "third-party recipient" to finance job creation projects and sustainable economic development within rural areas.
Intermediary Relending Program supports rural area projects
The Intermediary Relending Program finances business facilities and community development projects in rural areas.
This is achieved through loans made by the Rural Business-Cooperative Service to intermediaries. Intermediaries relend funds to ultimate recipients for business facilities or community development. Intermediaries establish revolving loan funds so collections from loans made to the recipients in excess of necessary operating expenses and debt payments are used for more loans to ultimate recipients.
