USDA Gives Grants for Rural Development

Agriculture Under Secretary for Rural Development Tom Dorr in early September announced 111 USDA Rural Development loans and grants totaling nearly $27 million.  The money will be used to promote homeownership opportunities and support the creation and expansion of rural businesses and jobs in rural communities in 42 states and Puerto Rico.

“These investments will benefit hundreds of rural communities across the country,” said Dorr. “They help cooperatives and rural entrepreneurs build successful businesses, create good jobs, increase economic opportunities for young families and help limited-income Americans achieve the American dream of homeownership.”

Dorr made the announcement prior to a Farm Bill Forum in Huron, S.D.

The funds totaling $26,805,971 are provided through the Housing Technical and Supervisory Assistance Grant, Rural Business Enterprise Grant, Rural Business Opportunity Grant, Rural Economic Development Loan and Grant, and Intermediary Relending programs. These programs provide funds to local governments, private non-profit corporations, federally recognized Indian tribal groups, rural cooperatives and rural utilities to facilitate business development and housing assistance. Funds are typically used to provide infrastructure, build industrial or business parks, for planning and technical assistance or to establish revolving loan funds for local businesses.