Over $11.6 million in Rural Economic Development Loans and Grants (REDLG s) will be awarded which in turn provide loans and grants to support local economic or community development efforts. Funds can be used for a variety of purposes, including community facilities and infrastructure, improving access to local medical care and other projects that encourage a favorable climate for jobs and growth.

     USDA Rural Development's mission is to deliver programs in a way that will support increasing economic opportunity and improve quality of life of rural residents. As a venture capital entity, Rural Development has invested over $54 billion since beginning of Bush Administration to provide equity and technical assistance to finance and foster growth in homeownership, business development, and critical community and technology infrastructure. As a result, over 1 million jobs have been created or saved through these investments.

     Funding of selected applicants will be contingent upon meeting conditions of loan and/or grant agreement. A complete list of selected recipients can be found at http://www.rurdev.usda.gov/.

http://www.federal-grant-news.com/

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