USDA Rural Development

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1 USDA Rural Development An umbrella of federal agencies within USDA serving the needs of rural America Rural Housing Service single & multi-family housing Rural Utility Service community facilities & infrastructure Rural Business-Cooperative Service business development

2 USDA Rural Development DAHMEN BARN UNION TOWN

3 Guaranteed Business & Industry Loans To foster rural employment, B&I provides a federal guarantee against loss on bank loans up to $10 MM made for business or commercial purposes in rural areas. To determine site eligibility: elcomeaction.do

4 B&I Types of Assistance Federal guarantee for lenders on their rural business loans: 80% guarantee on loans up to $5 million 70% guarantee on loans from $5-10 million Local approval authority

5 B&I Loan Purposes Real estate Equipment Refinancing Transfers of ownership Permanent working capital Loan fees & costs

6 USDA Rural Development OMAK Peppertree Guaranteed Business & Industry Loan

7 B & I Eligible Businesses Retail Manufacturing Wholesale Service Hotels & motels Nonprofits Nurseries Vertically-integrated ag businesses (e.g. wineries)

8 B & I Unique Niche Commercial investment property Retail centers, office buildings, industrial facilities, etc. No owner-occupancy required. New construction & renovation projects are eligible.

9 B & I Interest Rates Lender s customary commercial interest rate negotiated by lender & business Fixed or variable

10 USDA Rural Development Gordon Brothers Inc. Guaranteed Business & Industry Loan

11 B & I Term & Payment Structure Negotiated between lender & business Working capital 7 years maximum Equipment 15 years maximum (not to exceed useful life of collateral) Real estate 30 years maximum (not to exceed useful life of collateral) Structure: Balloons are not permitted. Reduced payments may be scheduled in the first 3 years

12 B & I Loan Fees Lender s reasonable and customary fees okay negotiated by lender & business USDA charges: initial guarantee fee equal to 3% of the guaranteed amount due prior to issuance of guarantee annual renewal fee equal to 1/2% of the guaranteed amount paid once a year

13 Rural Business Development Grants RBDG a competitive grant designed to support technical assistance, training and other activities leading to the development or expansion of small and emerging private businesses in rural areas Activities are separated into enterprise or opportunity type grant activities

14 Rural Business Development Grants Eligible Applicants : Towns Communities State agencies Authorities Nonprofit Corporations Institutions of Higher Education Federally-recognized Tribes Rural Cooperatives

15 USDA Rural Development Port of Klickitat Road Realignment Project

16 Rural Business Development Grants RBDG funds must be directed for projects benefitting rural areas or towns outside the urbanized periphery of any city with a population of 50,000 No maximum grant amount for enterprise type grants; however, smaller requests are given higher priority. grants range from $10,000 up to $500,000. There is no cost sharing requirement. Opportunity type grant funding is limited to a maximum award of $50,000

17 Rural Business Development Grant Enterprise type grant funds must be used on projects to benefit small and emerging businesses in rural areas uses may include: Training & technical assistance, project planning, business counseling/training, feasibility studies, Capitalization of revolving loan funds including funds that will make loans for start-ups and working capital Distance adult learning for job training and advancement Rural business incubators Long-term business strategic planning

18 Rural Business Development Grants Opportunity type grant funding must be used for projects in rural areas and they can be used for: Community economic development Technology-based economic development Feasibility studies and business plans Leadership and entrepreneur training Rural business incubators Long-term business strategic planning

19 USDA Rural Development Local grocery store, Business Center, LaCrosse Community Pride

20 Rural Economic Development Loan & Grant The Rural Economic Development Loan (REDL) and Grant (REDG) programs provide funding to rural projects through local utility organizations. USDA provides 0% interest loans to local utilities which 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.

21 Rural Economic Development Grants USDA provides grant funds to local utility organizations which use the funding to establish revolving loan funds (RLF). Loans are made from the revolving loan funds to projects that will create or retain rural jobs. Intermediaries may use Rural Economic Grant funds are for projects in rural areas or towns with a population of 50,000 or less.

22 Rural Economic Development Grant Eligible Applicants Any former Rural Utilities Service (RUS) borrower who borrowed, repaid or pre-paid an insured, direct, or guaranteed loan Nonprofit utilities that are eligible to receive assistance from the Rural Development Electric or Telecommunication Programs; or Current Rural Development Electric or Telecommunication Programs Borrowers

23 USDA Rural Development Horizons Building Port of Sunnyside

24 Rural Economic Development Loan Grant Eligible Uses: Business incubators Community development assistance to nonprofits and public bodies (particularly job creation or enhancement) Facilities and equipment for education and training for rural residents to facilitate economic development Facilities and equipment for medical care to rural residents

25 Rural Economic Development Loan Grant Start-up venture costs, including, but not limited to financing fixed assets such as real estate, buildings (new or existing), equipment, or working capital Business expansion Technical assistance

26 Rural Economic Development Loan Grant Up to $300,000 in grants may be requested for establishment of the RLF Up to 10% of grant funds may be applied toward operating expenses over the life of the RLF Up to $1 million in loans may be requested

27 Community Programs Water and Environmental Programs Funding for construction of water and waste facilities for infrastructure of rural communities with populations of 10,000 or less. WEP provides funding to organizations that provide technical assistance and training to rural communities in relation to their water and waste activities.

28 USDA Rural Development City of Goldendale Wastewater treatment plant

29 Community Facilities Provides affordable funding to develop essential community facilities in rural areas. An essential community facility is defined as a facility that provides an essential service to the local community Eligible borrowers include: Public bodies Community-based non-profit corporations Federally-recognized Tribes

30 Community Facilities What kinds of funding are available? Low interest direct loans Grants A combination of both, as well as our loan guarantee program. 90% Guarantee 1% initial fee

31 USDA Rural Development Prosser Fire Department

32 State Contacts Brian Buch, Business & Cooperatives Program Director Roni Baer, Business & Cooperatives Program Specialist , Ext Carlotta Donisi, Business & Cooperatives Program Specialist

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