Rural Economic Development Loan Program
Administrative Agency:
Federal Agency: U.S. Department of Agriculture, Rural Development
Program Goals:
Provides zero interest loans to rural electric or telephone cooperatives for pass-through to projects that promote rural economic development and job creation.
Resource Provided:
Loans at zero interest with a ten-year repayment to the eligible cooperative that re-lends the funds to a local entity to promote financially viable projects. The ultimate borrower can be a for-profit private business.
Eligibility:
Cooperatives that are current or former borrowers of the Rural Utility Service (Old Rural Electrification Administration)
Alaska Program Status:
Applications compete for funding on a national basis each quarter.
Comments:
Eligible projects include business expansion and start-up, community development, business incubator projects, etc.
Program Contact: (Primary Contact listed first.)