The Revolving Fund (RFP) Grant Program assists communities with water and wastewater systems. Qualified private non-profit organizations will receive RFP grant funds to establish a lending program for eligible entities. This grant program is to serve a rural area with a population not in excess
of 10,000.
Eligible Recipients:
Grants may be made to a private non-profit corporation that has a tax exempt status from the Internal Revenue Service, has the legal capacity and authority to carry out the purpose, has a proven record of successfully operating a revolving loan fund to rural areas, has no delinquent debt to the Federal Government nor any outstanding judgments to repay a Federal debt, and demonstrates that it possesses the financial, technical and managerial capacity to comply with Federal and State laws and requirements.
Eligible Projects:
The grant recipients will use the grant funds to establish a revolving loan fund. The loans will be made to eligible entities to finance pre-development costs of water and wastewater projects or short-term small capital improvement projects not part of the regular operations and maintenance of current water and wastewater systems. The amount of financing to an eligible entity shall not exceed $100,000 and shall be repaid in a term not to exceed 10 years. The rate shall be determined in the approved grant work plan.
Funding Source:
USDA Rural Development
Funding Amount:
Varies
Deadline:
Recurring
Contact:
Water and Environmental Programs (WEP) Staff
More Information:
www.rurdev.usda.gov/UWP-revolvingfund.html