Discover the Who / What / When / Where / Why of a Grant Opportunity!
USDA Rural Development | Rural Economic Development Revolving Loan Fund (RLF)
The Virginia Department of Housing and Community Development (DHCD) is excited to present a monthly grants opportunity brief that could be a game-changer for your growing Communities! This brief is designed to empower and uplift Communities throughout the Commonwealth, equipping them with the necessary resources to thrive. Explore our (DHCD) programs for more detailed grant information, including but not limited to Community Business Launch (CBL), Enterprise Zone (EZ), Industrial Revitalization Fund (IRF), Virginia Main Street (VMS) and GO Virginia (GOVA).
Who (Applicants)
- Current Rural Utilities Service (RUS), electric or telecommunication borrower
- Any former RUS borrower that has repaid or prepaid an insured, direct or guaranteed loan under the Rural Electrification Act
- Any not-for-profit utility that is eligible to receive an insured or direct loan under such Act
Who (Eligible Area)
- Intermediaries may use funds to lend for projects in rural areas or towns with a population of fewer than 50,000 residents.
What (Projects)
- USDA provides grants to local utility organizations which use the funding to establish Revolving Loan Funds (RLFs). Loans are made from the revolving loan funds to projects that will create or retain rural jobs. When the RLF is terminated, the grant is repaid to USDA.
- The interest rate is zero percent.
- Up to 80% of project costs; 20 percent must be provided by the ultimate recipient or the local utility.
When (Dates of Importance)
- Grant Posted: Summer Round – Currently Open
- Application due: June 30, 2025
Where (Application Instructions)
- Grant and Loan Application(s): Grant Application
- USDA Website Link: USDA Rural Economic Development
Why (Max Funding)
- Loans up to $2,000,000
- Grants up to $300,000
- Max Operation Funding: 10% of grant funds
Virginia Main Street 