HomeMy WebLinkAbout09-14-23 Correspondence - US Dept of Agriculture - USDA Seeks Applications to Support Economic Development and Create Jobs in Rural CommunitiesFrom:USDA Rural Development MontanaTo:AgendaSubject:[EXTERNAL]USDA Seeks Applications to Support Economic Development and Create Jobs in Rural CommunitiesDate:Thursday, September 14, 2023 10:02:39 AM
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US Department of Agriculture Rural Development - Together America Prospers
STAKEHOLDER ANNOUNCEMENT
USDA Seeks Applications to Support Economic Developmentand Create Jobs in Rural Communities
WASHINGTON, Sept. 14, 2023 – U.S. Department of Agriculture (USDA) announced
today that the Department is seeking applications from local lenders for funding to help
create jobs and improve economic conditions for people in rural communities.
The funding is being made available under the Intermediary Relending Program. The
program provides low-interest loans to local lenders known as intermediaries, who then
relend the funds to businesses to improve economic conditions and create new
opportunities in rural communities. Eligible intermediary lenders include nonprofit
corporations, cooperatives, federally recognized Tribes and public agencies.
Loans from an intermediary to an ultimate recipient business may be used for a variety of
activities, including:
acquire, build, convert, expand, or repair a business or business facility.
purchase or develop land.
purchase equipment, machinery, or supplies, or make leasehold improvements.
support start-up costs and working capital.
control and abate pollution.
support transportation services.
Interested applicants are encouraged to contact Lad Barney, USDA Rural Development in
Montana Business Programs Director, at lad.barney@usda.gov in advance of the
application deadline to ask questions about their project, the program, or the application
process.
Applications are accepted quarterly and must be submitted to lad.barney@usda.gov no
later than 4:30 p.m. Mountain Time by the following dates:
First Quarter: Sept. 30, 2023.
Second Quarter: Dec. 31, 2023.
Third Quarter: March 31, 2024.
Fourth Quarter: June 30, 2024.
USDA is offering priority points to projects that advance key priorities under the Biden-
Harris Administration to help communities to create more and better market opportunities,
advance equity, and combat climate change. These extra points will increase the
likelihood of funding for projects that will advance these key priorities in rural places.
Eligible applications that are not funded in the quarter received will automatically compete
for funding in up to three additional quarters.
For additional information, see page 63050 of the Sept. 14, 2023, Federal Register.
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subscriber page.
USDA is an equal opportunity provider, employer, and lender
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