The U.S. Department of Agriculture is seeking applications for loans and grants through the Rural Economic Development Loan and Grant program. Eligible recipients are USDA rural utilities program borrowers. Those recipients pass the funds to local organizations. The funding is leveraged to create projects that retain or create jobs and upgrade public infrastructure. The maximum amount of funding for any one project is one- million dollars for loans and 300-thousand for grants.

USDA plans to award up to 79-million dollars in loans and 10-million in grants through the program. The deadline for submitting applications is the last business day of each month through September 30th of 2012. Applications must be submitted to the Rural Development state office where the project will be located.

Courtesy: NAFB News