Rural Economic Development Loan & Grant Programs in Michigan

The Rural Economic Development Loan and Grant programs provide funding for rural projects through local utility organizations to promote rural economic development and job creation projects. USDA provides zero-interest loans to local utilities which they pass through to local businesses for projects that will create and retain employment in rural areas. USDA also provides grants to local utility organizations to establish Revolving Loan Funds (RLF). Eligible applicants must be a current or former Rural Utilities Service (RUS) electric or telecommunication borrower, or a not-for-profit utility eligible under the Rural Electrification Act. Intermediaries may use funds to lend for projects in rural areas or towns with a population of fewer than 50,000 residents. Eligible projects include business incubators, community development assistance to nonprofits and public bodies, facilities and equipment for education and training, medical care facilities, start-up venture costs, business expansion, and technical assistance. Applications are accepted through local offices year-round, with quarterly funding competitions. The deadlines for complete applications to be received in the RD State Office for quarterly funding competitions are September 30, December 31, March 31, and June 30.