March 6th, 2012 by WCBC Radio
Agriculture Secretary Tom Vilsack announced today that USDA is seeking applications for loans and grants to help rural businesses create jobs and spur economic development. The funding is being provided under the Rural Economic Development Loan and Grant (REDLG) 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 $1 million for loans and $300,000 for grants.