U.S. Department of Agriculture: Revolving Fund Program
The Revolving Fund Program provides financial and technical assistance to help communities bring safe drinking water and sanitary, environmentally sound waste disposal facilities to rural Americans. It supports the sound development of rural communities and the growth of the economy without endangering the environment.
The Program will assist communities to extend and improve water and waste treatment facilities. Grantees will receive funds to establish a lending program for eligible entities. As grant recipients, organizations will set up a revolving loan fund to provide loans to finance predevelopment costs of water or wastewater projects, or short-term small capital projects not part of the regular operation and maintenance of current water and wastewater systems.
Applications are encouraged that will help improve life in rural America. Applicants are encouraged to consider projects that provide measurable results in helping rural communities build robust and sustainable economies through strategic investments in infrastructure, partnerships, and innovation. Key strategies include:
- Achieving e-Connectivity for Rural America
- Developing the Rural Economy
- Harnessing Technological Innovation
- Supporting a Rural Workforce
- Improving Quality of Life
Amount: The total amount of financing to an eligible entity shall not exceed $100,000 and shall be repaid in a term not to exceed 10 years. Applicants must contribute at least 20 percent of funds from sources.
Eligibility: An applicant is eligible to apply if it:
- Is a private, non-profit organization
- Is legally established and located within one of the following: a state within the United States; the District of Columbia; the Commonwealth of Puerto Rico; or a United States territory
- Has the legal capacity and authority to carry out the grant purpose
- Has a proven record of successfully operating a revolving loan fund to rural areas
- Has acceptable capitalization, and is composed of at least 51 percent of the outstanding interest or membership being citizens of the United States or individuals who reside in the United States after being legally admitted for permanent residence
- Has no delinquent debt to the Federal government or no outstanding judgments to repay a Federal debt
- Demonstrates that it possesses the financial, technical, and managerial capability to comply with Federal and state laws and requirements
- Is not a corporation that has been convicted of a felony (or had an officer or agent acting on behalf of the corporation convicted of a felony) within the past 24 months
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