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USDA Offers $18 Million for Rural ED
Funding totaling $18 million is available during FY2001 through the U.S. Department of Agriculture to assist in economic development projects in rural areas. The Rural Economic Development Grants program has $3 million available, while the Rural Economic Development Loans program has $15 million.
Funds must flow through Rural Utilities Service-financed telephone and electric utilities, but they can be used for a broad variety of economic development projects, including incubators, revolving loan funds, project feasibility studies and technical assistance, and projects to provide education and training to rural residents to facilitate economic development.
For Fiscal year 2001, the maximum dollar award for zero interest loans is $450,000 and the top dollar amount for grants is $200,000. For more information on the programs, visit USDA’s website at http://www.rurdev.usda.gov/rbs/busp/bprogs.htm