Wikiprocedure

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

Page Discussion

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ProcedureEdit

Apply In Person:

  1. To Apply for Rural Economic Development Loan and Grant (REDLG), the applicant has to approach the U.S. Department of Agriculture (USDA) Rural Development link
  2. An application form will be provided to the applicant by the concerned officer. or it can be downloaded from the following link
  3. The applicant has to fill in all the necessary details in the application form. (Incomplete applications are not accepted)
  4. Make sure that the applicant has attached all the necessary documents that are mentioned in the “Required Documents” section of this page.
  5. The applicant has to attach the photocopies of the required documents along with the application form while submitting.
  6. Submit all the documents with the completed form to the concerned office.
  7. Once the application is determined to be complete, USDA will conduct a further review of the management team and business plan.
  8. Fee for this procedure has to be paid as per the authority request.
  9. If the initial review is favourable, USDA will proceed to conduct an interview with the applicant.
  10. The notification will take between 12 – 13 weeks from the receipt of the initial application.
  11. The applicant will be advised of the results of the meeting within 60 days.



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Required DocumentsEdit

  • 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 & ContactsEdit

USDA Rural Development
Rural Housing Service
1400 Independence Ave., SW,
Rm 5014, STOP 0701
Washington, DC 20250-0701
Application assistant Phone: (202) 690-0433
Contact link
Regional link



EligibilityEdit

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.



FeesEdit

  • Fee for this procedure has to be paid as per the authority request.



ValidityEdit

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



Documents to UseEdit

  • Application form link



Sample DocumentsEdit

Please attach sample completed documents that would help other people.



Processing TimeEdit

  • This entire process can be completed within 30 days or as per the timeline advised by the respective department authority.



Related VideosEdit

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.



InstructionsEdit

  • Applicant must complete the application form before submitting. Incomplete applications will not be accepted.
  • Applicant must provide genuine information while applying for this procedure.



Required InformationEdit

  • 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 DocumentEdit

  • The Rural Economic Development Loan (REDL) and Grant (REDG) programs provide funding to rural projects through local utility organizations. Under the RED Loan 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 helpEdit

  • For more information Link



Other uses of the Document/CertificateEdit

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.



External LinksEdit



OthersEdit

More information which might help people.



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