Alabama - Apply for Rural Economic Development Loan and Grant (REDLG)

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Procedure

Apply In-Person:

1. The applicant has to reach out to U.S. Department of Agriculture (USDA) Rural Development for the application. Contact details are mentioned in “Office Locations & Contacts” of this page. Or here is the Contact Link
2. An application form is also available at the following Link
3. The applicant should make sure to carry all the documents that are mentioned under the “Required Documents” section of this page (Both photocopies and originals).
4. Applicant has to fill in all the necessary details in the form and attach the photocopies of the documents that are needed along with the application form before submitting.
5. The fee of this process is mentioned under the “Fees” section of this page.
6. Once the application is determined to be complete, USDA will conduct a further review of the management team and business plan.
7. Public reporting burden for this collection of information is estimated to average 180 minutes per response.
8. For further information on this notice, please contact the USDA Rural Development State Office in the State in which the applicant’s headquarters is located.

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Required Documents

• Application form Link
• For a loan, fill out the following form.
  • A letter of conditions containing terms and conditions particular to the project;
  • A loan agreement that specifies the terms and circumstances of the loan;
  • A note outlining the loan's repayment terms; and
  • A legal opinion on the Intermediary's authority to participate in the Project.
• To apply for a grant:
  • A letter of conditions containing terms and conditions particular to the project.
  • A grant agreement with broad terms and conditions.
  • A grant agreement with specific terms and conditions.
  • A legal opinion on the Intermediary's ability to participate in the Revolving Loan Fund and participate in the Project.

Office Locations & Contacts

Location: Washington D.C
Address: USDA Rural Development
Rural Housing Service
1400 Independence Ave., SW, Rm 5014, STOP 0701
Washington, DC 20250-0701
Phone: (202) 720–1400
Contact Link

State Office:
Contact Link

Eligibility

• To receive funding under the REDLG program, which will be forwarded to selected eligible projects, an entity must be described as:
  • Any former Rural Utilities Service (RUS) borrower who borrowed, repaid or pre-paid an insured, direct, or guaranteed loan.
  • Non profit utilities that are eligible to receive assistance from the Rural Development Electric or Telecommunication Programs.
  • Current Rural Development Electric or Telecommunication Programs Borrowers.

Fees

• Contact Local RD office for more details.

Validity

• Maximum term is 10 years.
• Repayment can be deferred up to two years.

Documents to Use

• An application form is available at the following Link

Sample Documents

Please attach sample completed documents that would help other people.

Processing Time

• Public reporting burden for this collection of information is estimated to average 180 minutes per response.
• For further information on this notice, please contact the USDA Rural Development State Office in the State in which the applicant’s headquarters is located.

Related Videos

Videos explaining the procedure or to fill the applications.
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from external websites.
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Instructions

• Please contact Application assistance before submitting the application.
• Contact information for the State Office and speak with a Business Programs Specialist before filling out any forms or applications.
• This will help you save time when completing your application.
• Because citations and other information may be subject to change, please always consult the program instructions listed in the section above titled “What Governs This Program?” You may also contact your local office for assistance. You will find additional forms, resources, and program information at Link USDA is an equal opportunity provider, employer, and lender.

Required Information

The information needed to be filled in the application form are listed below:

• Budget Summary.
• Budget Categories.
• Non-Federal Resources.
• Forecasted Cash Needs.
• Budget Estimates Of Federal Funds Needed For Balance Of The Project.
• Other Budget Information.

Need for the Document

• The Rural Economic Development Loan (REDL) and Grant (REDG) programs provide funding to rural projects through local utility organizations. Under the REDLoan program, USDA provides zero interest loans to local utilities, which they, in turn, pass through to local businesses (ultimate recipients), for projects that will create and retain employment in rural areas. The ultimate recipients repay the lending utility directly. The utility is responsible for repayment to the Agency.

Information which might help

• Application Procedure Link
• For more state view information select the state for “For state specific information drop down” at top right corner Link
• For more information Link

Other uses of the Document/Certificate

• Under the REDGrant program, USDA provides grant funds to local utility organizations to use the funding to establish revolving loan funds (RLF). Loans are made from the revolving loan funds to projects that will create or retain rural jobs. When the revolving loan fund is terminated, the grant is repaid to the Agency.

External Links

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Others

More information which might help people.